股权型基金会的法人治理问题探讨

Management of Equity-based Foundation

随着社会财富形态的变化,股权型基金会已经逐渐成为大型公益基金会的主要形态。股权型基金会属于参股载体财团、企业基金会、非公募基金会,股权行使、基金会与相关企业的利益输送、资产运营是其法人治理中的三大典型问题。股权型基金会的股权行使应采用受限制的优先股或表决权委托模式;应该通过明确理事和股权受托人的忠实义务、强制性信息披露和对关联交易的规制来防止基金会与相关企业的不当利益输送;应该选择合适的专业化财务运营团队和运营模式,对基金会运营经费做出长期安排。

With the change of social wealth’s form,the equity-based foundation has gradually become the main form of large public welfare foundation. The equity-based foundation is a kind of share-holding consortium,enterprise foundation,and non-public foundation,in whose management there are three typical issues,the exercising of equity,profit transfer between the foundation and relevant enterprises,and the operation of assets. The equity-based foundation shall exercise its equity by adopting restricted preferred shares and voting right delegation model;shall regulate profit transfer between the foundation and relevant enterprises by defining directors’ duty of loyalty,compulsorily disclosing information and prohibiting related transactions;shall manage assets by appropriate professional teams and operation model,and making long-term arrangements for operating expenses.