Article 1 – Definitions
For the purposes of these Donation Terms and Conditions, the following definitions shall apply:
- Future Fund Foundation: Future Fund Foundation, a foundation with its registered office in Utrecht and registered in the Commercial Register of the Chamber of Commerce under number: 77769996;
- User: Any natural or legal person that makes use of the Services of Future Fund Foundation (whether or not by having a User Account);
- Conversion Day: The periodically recurring day, to be determined by Future Fund Foundation, on which Donations will be converted into Investments. This day will occur at least once a year.
- Services: Services provided by Future Fund Foundation, consisting of:
- offering access to the Website
- offering access to the User Account
- enabling donations via a Donation Platform or via personal contact through email, phone or conversation;
- Donor: The natural or legal person who, by using the Services of Future Fund Foundation, makes Donations to Future Fund Foundation for the benefit of a Charity;
- Donation: An amount of money, donated by the Donor to Future Fund Foundation, in accordance with these terms and conditions;
- Donation Button: The button on the Donation Platform, that leads to a payment environment for Donations;
- Donation Platform: Any software, provided by Future Fund Foundation, that enables Users to donate via its Website;
- Charity: A charitable institution, foundation or legal entity, appointed by the Donor or the Future Fund Foundation, that receives donations by Future Fund Foundation;
- Investments: The investments made by Future Fund Foundation in accordance with the investment policy, that will be published on the Website and can be changed from time to time;
- Returns: The (possible) returns on Investments during a period, earned by dividend payments and value increase of the Investments;
- Transaction: Every act, legal or factual, statement or conduct that establishes a commitment, right or agreement;
- Future Fund: A project by Future Fund Foundation, aimed at supporting Charities by enabling Donors to invest a certain amount of money for one or more Charities;
- Pay Out Day: The periodically recurring day, to be determined by Future Fund Foundation, on which a predetermined percentage of the Returns will be disbursed to the Charities. This day will occur at least once a year;
- Disbursement: the amount of money Future Fund Foundation will periodically pay to a Charity;
- Website: Any website, to be managed and/or be used by Future Fund Foundation, among which www.ToekomstFonds.nl and www.Future-Fund.org.
- User Account: A collection of personal and donation related to the donor that the donor can access with her/his email (and password) on the Website.
Article 2 – Applicability
2.1 These Donation Terms and Conditions apply to the content, realization and fulfillment of all Transactions of Future Fund Foundation. Provisions, in particular specific ones, deviating from these Donation Terms and Conditions, are only valid insofar as they have been confirmed in writing by Future Fund Foundation.
2.2 By using the Donation button or by ordering Future Fund Foundation to make a Donation in person, by phone or email, the User agrees to be familiar with and agree to the contents of these Donation Terms and Conditions.
2.3 Future Fund Foundation reserves the right to unilaterally modify these Terms and Conditions of Donation.
Article 3 – General
3.1 Future Fund Foundation offers Donors the opportunity to make a Donation once or periodically, which will be invested by Future Fund Foundation as referred to in Article 4.3 of these Donation Terms and Conditions.
3.2 The Donation will remain in the Future Fund Foundation account until Conversion Day. After payment of the Donation the money belongs legally to Future Fund Foundation, but Future Fund Foundation commits to meeting the obligation that is attached to the Donation as referred to in Articles 4.3 and 4.7 of these Donation Terms and Conditions.
3.3 Should the User not agree with these Donation Terms, the User should not use the Services of Future Fund Foundation.
Article 4 – Rights and Obligations Future Fund Foundation
4.1. The Donations received will be used by Future Fund Foundation for the Investments to benefit one or more Charities in accordance with Article 4.3 of these Donation Conditions.
4.2. Future Fund Foundation will maintain records showing what portion of the Return on Investment results from a particular Donation. Thus, the Return will be administered pro rata to the Donation of an individual Donor relative to all Donors collectively.
4.3 Future Fund Foundation aims to ensure that Charities receive the largest possible long-term benefit from the Return periodically, thereby providing a stable, periodic, ever-continuing and ever-growing source of income for the Charity. In order to achieve this goal, Future Fund Foundation shall ensure, among other things, that a portion (at least 45%) of the pro rata portion of the Return referred to in Article 4.2 is distributed to the Charity/Charities designated by the Donor (the Disbursement).
4.4 Another portion (also at least 45%) of the pro rata portion of the Return referred to in Article 4.2 is used to grow the value of the Investments so that the Return — and thus the Disbursement to the Charity (as described in Article 4.3) — increases each year.
4.5 Future Fund Foundation is entitled to transfer a percentage (of up to a maximum of 10%) of the pro rata portion of the Return referred to in Article 4.2 to its own operating account as a contribution towards the operating costs of the Future Fund. Future Fund Foundation is a non-profit foundation, so this percentage will never be used as a profit for individuals, and if the operating expenses of Future Fund Foundation allow it, this percentage will be adjusted downward in the future.
4.6 Future Fund Foundation may not make any other use of the Donation; the sole function of the Donation is to generate a Return as an Investment for the Donor’s designated Charity/Charities.
4.7 If Future Fund Foundation ceases to exist, the proceeds of the Investments after liquidation shall be transferred pro rata to the Charity/Charities that the relevant Donor intended to benefit with her/his Donation.
4.8 If the Charity designated by the Donor ceases to exist, Future Fund Foundation shall ensure that the Distribution referred to in Article 4.3 and the proceeds referred to in Article 4.7 after liquidation shall benefit a Charity/Charities with a similar objective to the Charity originally designated by the Donor.
4.9 Future Fund Foundation will have its finances audited once a year by an independent audit committee. When the foundation reaches an annual turnover of 20,000 euros, the foundation will have this audit carried out by a registered accountant.
Article 5 – Rights and Obligations Donor
5.1 The Donor is aware that should she/he agree to these Donation Terms and Conditions and make a Donation, a Donation Agreement between the Donor and Future Fund Foundation will be established. That Donation Agreement is entered into with the obligation for the Future Fund Foundation set forth in Sections 4.3 and 4.7.
5.2 The Donor is aware that should she/he agree to these Donation Terms and Conditions and make a Donation, the Donation is irrevocable and she/he will never be able to receive the Donation back.
5.3 In making a Donation to Future Fund Foundation, the Donor guarantees that the information provided by him/her (including personal data such as name and email address) is correct and complete.
Article 6 – Donations and Payments to Users
6.1 Donations are irrevocable and without direct compensation.
6.2 Donor donates to Future Fund Foundation and Future Fund Foundation accepts that Donation.
6.3 On Conversion Day, Donations are converted into Investments. This happens at least once a year.
6.4 On Pay Out Day, the Disbursement referred to in Article 4.3 shall be transferred to the Charities. This happens at least once a year. Another portion, not exceeding 10%, is deposited into Future Fund Foundation’s operational bank account to help cover the operational costs of the Future Fund, in accordance with Article 4.5. The remaining amount remains invested in shares, to grow the invested amount in value, in accordance with Article 4.4.
6.5 Donor is responsible for providing all necessary information and determines the amount and frequency of the Donation and the Charity/Charities she/he wishes to benefit with her/his Donation.
6.6 Future Fund Foundation is at all times entitled to refuse a Donation without giving any reason. In that case a Donation will be refunded to the account from which the Donation originated.
6.7 Charities may not derive any right from the charge set forth in Articles 4.3 and 4.7 and shall have no independent claim to a pro rata share of the Return referred to in Article 4.3 and/or to a pro rata share of the liquidation proceeds referred to in Article 4.7 of these Terms and Conditions of Donation.
Article 7 – Liability
7.1 Future Fund Foundation is not liable for damages caused by third parties.
7.2 The liability of Future Fund Foundation is excluded insofar as the relevant damage is caused by an event attributable to the User.
7.3 Under all circumstances, Future Fund Foundation’s liability is limited to the Donor’s direct damages.
7.4 Future Fund Foundation shall never be liable for damage caused by the non-functioning or incomplete functioning of the Website(s) and/or the Donation Platform or parts thereof resulting in loss of income for a Charity.
7.5 Future Fund Foundation shall not be liable for anything, which the User shall be held to do towards third parties, other than for its direct obligation towards the User as arising from these Donation Terms and Conditions.
Article 8 – Governing law and Disputes
8.1 These Donation Terms and Conditions are governed by Dutch law.
8.2 All disputes between parties, including those which are only considered as such by one of the parties, shall be settled by the competent court of the place of business of Future Fund Foundation, currently Utrecht. Nevertheless, Future Fund Foundation reserves the right to choose the competent judge, by law or by treaty.
8.3 If any provision mentioned in these Donation Terms and Conditions, and applicable to the User, is declared null and void, then this provision will be replaced by a valid provision, which corresponds to the same intention as much as possible. The validity of the other provisions of these Donation Conditions will remain unchanged.
Article 9 – Intellectual Property
9.1 All intellectual property rights regarding the content and layout of the Website and the Donation Platform belong to Future Fund Foundation. Copying, distributing and any other use of these materials is not allowed without the explicit written permission of Future Fund Foundation, except and only as far as stated otherwise in regulations of imperative law.
9.2 It is not permitted to include web pages or individual elements (such as images, videos or interactive applications) of the Website and/or the Donation Platform in a frameset or to process them through another web page, if in doing so the origin of the material is not clearly indicated.
9.3 It is explicitly not permitted to download, copy, modify, disclose, use for direct or indirect commercial purposes or use any files, data, programs and/or materials for any other purpose than the purposes mentioned above except with the express written permission of Future Fund Foundation.