§1
Name, Registered Office, Legal Form
(1) The foundation bears the name “Stiftung Little House of Hope”.
(2) It is a legally capable foundation under civil law.
(3) Its registered office is in Frankfurt am Main, Germany.
§2
Purpose of the Foundation
(1) The foundation operates on a non-profit basis; it does not primarily pursue its own economic interests. The foundation exclusively and directly pursues charitable and benevolent purposes within the meaning of the section “Tax-Privileged Purposes” of the German Fiscal Code (promotion of education and vocational training; youth welfare).
(2) The foundation’s purpose is realized against the background of the exceptional importance of early childhood educational support for further intellectual development through the operation of kindergarten and pre-school programs as well as supplementary educational support for school-aged children from educationally disadvantaged and extremely impoverished backgrounds in Namibia. Children orphaned as a result of AIDS are given priority admission to these programs.
(3) The allocation of foundation funds is decided by the Board of Directors. Further details are governed by the guidelines for the allocation of foundation funds. There is no legal entitlement to the granting of foundation funds. A fundamental change of the foundation’s purpose may only occur on the premise that the AIDS problem and its resulting consequences for children no longer exist. In any case, the care and support of children in Africa shall remain the foundation’s purpose.
§3
Foundation Assets
(1) Upon recognition, the foundation was endowed with initial capital (basic endowment) of EUR 600,000.
(2) The basic endowment must be preserved in its entirety. The foundation’s purpose shall be fulfilled using the income generated from the foundation assets. Recourse to the substance of the basic endowment is permitted only with prior approval of the foundation supervisory authority, provided that the long-term and sustainable fulfillment of the foundation’s purpose is not impaired and the founder’s intent cannot otherwise be realized.
(3) The foundation’s basic endowment may be increased by additional endowments from the founder(s) or third parties, provided this is expressly designated as such.
(4) The basic endowment must be invested securely and profitably. Gains resulting from the reallocation of the basic endowment may be used in whole or in part to fulfill the foundation’s purpose, provided that the preservation of the basic endowment is ensured.
§4
Use of Foundation Assets
(1) The income from the foundation assets and donations from the founder(s) or third parties that are not intended to increase the basic endowment may be used only for statutory purposes.
(2) No person may benefit through expenditures, services, or grants that are incompatible with the foundation’s purpose, or through disproportionately high remuneration.
(3) Members of the foundation’s governing bodies as well as the founder(s) shall not receive any grants from the foundation’s funds.
§5
Foundation Bodies
(1) The governing bodies of the foundation are the Board of Directors and the Board of Trustees (Kuratorium). The names of the respective members are published on the foundation’s website.
(2) Each governing body may adopt its own rules of procedure.
§6
Board of Directors
(1) The Board of Directors consists of at least four and no more than five members. The term of office is three years.
(2) Members of the Board of Directors serve in an honorary capacity. Necessary expenses incurred by the Board are reimbursed up to a total of 1% of the foundation’s capital per year.
(3) The Board of Directors elects from among its members a Chairperson and a Deputy Chairperson. Re-election is permitted. The election is for a term of three years.
(4) Prior to the expiration of their term, the Board members elect their successors. Re-election is permitted. After the expiration of its term, the incumbent Board shall continue to conduct the foundation’s business until a new Board is elected.
(5) If a member of the Board of Directors resigns before the end of the three-year term, a replacement member shall be elected for the remainder of the term.
(6) The election of new Board members requires a majority vote of the remaining Board members.
§7
Duties of the Board of Directors
(1) The Board of Directors decides on the investment of the foundation’s assets and on the use of the income generated. It prepares the allocation of foundation funds in detail and implements the funding measures, including accompanying on-site visits. The administration of the foundation also falls within the Board’s responsibilities.
(2) The Board obliges recipients of foundation funds to submit an annual accountability report on the use of the funds received from the foundation no later than four months after receipt.
(3) The Board represents the foundation in and out of court by two of its members, one of whom must be the Chairperson or the Deputy Chairperson.
(4) Legal transactions involving the sale of real estate or obligating the foundation to more than EUR 20,000 in an individual case require the prior approval of at least four members of the Board, one of whom must be the Chairperson or the Deputy Chairperson.
§8
Resolutions of the Board of Directors
(1) The Board of Directors adopts resolutions by a simple majority of the members present. The Board has a quorum if at least three members are present. In the event of a tie, the vote of the chair of the meeting shall be decisive.
(2) The Board records its resolutions and the essential content of its meetings in minutes.
(3) In the case of resolutions adopted by circular procedure, for which minutes must also be prepared, the participation of all Board members is required.
§9
Management
(1) In managing and investing the foundation’s assets, the diligence of a prudent businessperson must be observed.
(2) The Chairperson or the Deputy Chairperson convenes meetings of the Board of Directors as often as required for proper management, but at least once per year. The Board of Directors must also be convened if at least one third of its members so request.
(3) After the end of the financial year, which corresponds to the calendar year, the Board of Directors prepares an annual report and annual financial statements. The annual financial statements must be reviewed by an auditor who is not a member of the Board.
(4) The annual financial statements must be audited by a certified public accountant or another person or entity authorized to issue an appropriate audit opinion if required by the foundation supervisory authority.
(5) The annual financial statements, an activity report, and a statement of assets or the audit report must be submitted to the foundation supervisory authority within nine months after the end of the financial year.
§10
Board of Trustees (Kuratorium)
(1) The foundation has a Board of Trustees consisting of up to seven members, appointed by the Board of Directors for a term of three years. Reappointment is permitted. Members of the Board of Trustees may not simultaneously serve on the Board of Directors.
(2) The Board of Trustees should include individuals with particular expertise relevant to the fulfillment of the foundation’s purpose.
(3) The Board of Trustees advises and supports the Board of Directors in the optimal use of foundation funds within the framework of the statutes.
(4) The Board of Trustees may adopt its own rules of procedure.
(5) Members of the Board of Trustees shall not receive any compensation or reimbursement of expenses.
§11
Foundation Supervision
The foundation is subject to state supervision in accordance with the applicable foundation laws.
§12
Dissolution of the Foundation, Merger, Amendment of the Statutes
(1) The requirements for amendments to the statutes are governed by the statutory provisions of § 85 (1) to (3) of the German Civil Code (BGB). The requirements for the transfer, merger, or dissolution of the foundation are governed by the statutory provisions of §§ 86 et seq. of the German Civil Code (BGB).
(2) To the extent that measures pursuant to paragraph (1) fall within the responsibility of the Board of Directors, they may only be carried out with the consent of all members of the Board.
(3) Applications pursuant to paragraph (1) require the approval of the tax authority.
§13
Disposition of Assets
In the event of the dissolution of the foundation or the loss of its tax-privileged purpose, the foundation’s assets shall pass to a charitable public-law entity or another tax-privileged organization designated by the Board of Directors, which must use the assets directly and exclusively for purposes in accordance with §2 of these statutes.
§14
Entry into Force
This version of the statutes enters into force upon approval by the foundation supervisory authority.
Frankfurt am Main, 18 December 2025
Kathrin Lochmüller
(Chairperson of the Board of Directors)
Dieter Krebs
(Member of the Board of Directors)
Approved by the Foundation Supervisory Authority
(Governmental Authority Darmstadt)
with effect from 18 December 2025
