Mirror of public charity: how does zero reward charity trust work

 Mirror of public charity: how does zero reward charity trust work

As of February 3, 285 charitable trusts have been filed nationwide, with a total assets of 2.939 billion yuan, according to charity china.com.

The main advantage of charitable trust is point-to-point. The trustee is directed to achieve the charitable purpose of the client. Cai Jian, chairman of the charity trust Committee of the China Charity Federation, also told 21st century economic news that in the process of implementation, the advantages of the independence and transparency of the charity trust property were embodied. The trustee should be subject to multiple supervision, and the principal and income were all used for public welfare undertakings.

According to the charity law, if the trustee of a charitable trust violates the trust obligations or is difficult to perform his duties, the trustor may change the trustee; the trustee shall, according to the trust documents and the requirements of the trustor, report the handling of trust affairs and the management and use of the trust property to the trustor in a timely manner; and may set up a trust supervisor for supervision as required.

Cai also suggested that, in the face of major emergencies, when a large amount of donated materials need to be allocated as a whole, the power of a single organization is limited, and proposed the introduction of the public trustee system.

4 new crown epidemic charity trusts have been established

In the twenty-first Century, economic reporters sorted out 4 charitable trusts for epidemic prevention and control, and interviewed the latest progress.

The fastest reaction was Everbright trust, which, as the trustee, established the first domestic charity trust for medical objects on January 25. Bluesail medical, the trustor, donated 1 million medical grade protective gloves as the trust assets.

The client participates in the decision-making process. The list and quantity of the assisted hospitals are determined by the client, and reasonable personalized needs can be put forward. The head of Everbright Trust charity trust Office introduced to the 21st century economic reporter that, according to the wishes of the client, he contacted hospitals in Hubei, Zhejiang, Beijing, Gansu and other places to confirm the donation quantity a few days ago, of which 70% of the gloves were sent to hospitals in Hubei. At present, Everbright trust is in urgent contact with logistics channels. On February 2, Everbright trust began to send materials to hospitals across Hubei Province. Materials from other provinces will be delivered through logistics companies in recent days. It is expected to arrive no later than February 5.

Bluesail medical told 21st century economic news that 1 million gloves had been delivered on January 29.

Fund charitable trust is through special account for material procurement or direct donation.

On January 25, Everbright trust and Sichuan Xinxin Charity Foundation jointly established the guangxinshan Xinxin charity special charity trust. The medical protective articles are purchased by the client. The materials arrived at the warehouse in Wuhan on the evening of the 28th, and some of them have been delivered to the hospitals.

According to the head of the above charity trust office, the two trusts have completed the pre registration of zhongxindeng system and reported to the local banking and Insurance Regulatory Bureau and the Civil Affairs Bureau. Considering the needs of the epidemic, various materials have been distributed in advance and follow-up procedures are being completed.

One of the most representative of the industry is that the China Trust Industry anti new pneumonia charity trust initiated by the trust industry association and with guoxintong trust as the trustee on January 26 is an open trust. As of January 28, three phases have been established, with a total fundraising of 30.8 million yuan. 61 trust companies have participated in the donation as clients.

The use direction of the charitable trust property includes: donation to charity organizations and medical systems and other institutions that can legally accept donation for epidemic prevention and treatment, distribution of epidemic prevention guarantee to medical staff, volunteers and the public, pension for families who died of epidemic, and use for public health undertakings such as medical research and emergency rescue after the epidemic.

From the point of view of purpose, it belongs to the Nobel type fund charitable trust, which aims to continuously fund public health research and reduce the occurrence of similar events.

On February 1, the first four relief projects of the charity trust have been funded. According to people familiar with the matter, the first batch of project expenditure was about 910000 yuan, and the participating custodian banks, trustees and lawyers did not receive remuneration, and all the funds were used for charity.

The special trust is composed of 61 clients, whose management committee is the internal supervision organization, and two professional law firms are employed as the external supervisors.

The fourth one is Xinhua trust u00b7 huaen No.10 Dima Co., Ltd. medical care charity trust, which was established on January 30, with a scale of 10 million yuan. It is used for the special assistance of front-line medical staff in the prevention and control of new coronavirus pneumonia and other future public health events.

Xinhua trust told reporters that the project is an open trust, with a law firm as the supervisor. The first 5 million yuan has arrived, and the donated materials are being prepared according to the wishes of the client.

It is worth noting that none of the above four charitable trusts received any remuneration. The head of the charitable trust business of a trust company disclosed to the reporter that the charitable trust business belongs to public welfare undertakings, and the charitable trusts established by the company as the trustee do not receive trust remuneration, and the clients are mostly long-term cooperative clients.

Building multiple channels of material donation

A number of trust people told 21st century economic reporter that trust itself has the characteristics of property isolation. Compared with charitable donation, the biggest advantage lies in the independence of property and open and transparent operation mode. Each charitable trust has a special account for management. There is a clear record of the inflow and outflow of all funds and materials, and feedback to the client as soon as possible, and issue a report to the client and the regulatory department.

On January 9, the Ministry of Civil Affairs issued the administrative measures for the disclosure of charitable trust information (Draft for comments), which added the contents of the proportion or amount of annual charitable expenditure, the scope of beneficiaries and the procedures and methods selected in the establishment process. In the process of existence, the content and basic format of the annual report shall be formulated by the Civil Affairs Department of the State Council and the banking insurance regulatory authority of the State Council, which requires the clients, trustees and their managers of charitable trusts to disclose the related transactions and other related transactions to the public in the annual report.

He said that the development of charitable trusts can also be organically combined with corporate charities: first, when establishing charitable trusts, corporate charities can be introduced to participate, with corporate charities as supervisors, which is conducive to tax control and supervision of charitable trust property management.

Second, the corporate charity organization can introduce the entrusted management mechanism when managing the charity funds. The legal person charity organization shall select qualified trustees and entrust the charity property to the trustees for management. The trust system and charity donation shall be combined to increase the transparency of management.

In the face of major emergencies such as the new crown pneumonia epidemic, the power of any foundation or charitable trust as a single organization is limited. Cai also said frankly that it is suggested that China introduce the public trustee system, which is established or designated by the government, to establish an independent trust organization in the form of a company, to engage in trust business on behalf of the country. In case of disaster, the society can donate through charitable organizations or charitable trusts, and concentrate on public trustees for unified distribution.

Guo Yuhang, President of China blockchain Application Research Center, is also thinking about whether it is possible to develop a charity information platform based on blockchain. Every donation and material will be recorded, and everyone can find out where their donation goes. Hospitals, institutions and individuals can release requirements on this platform, match point-to-point, and link information without tampering. The platform is open to the public and can be audited and supervised afterwards.

Source: editor in charge of 21st century economic report: Zhang Meiyu nf2100