Forest areas



Sicirec Foundation's official regulation

1. The board

a. The board establishes procedures, sets directives and carries the final responsibility for the management of day-to-day operations.  The board exists of at least 5 individuals.
b. In order for decisions to be made it is required that more than half of the amount of board members are personally present at a meeting. Each board member has one vote.
c. A board member is only authorized to  represent the foundation with one or more other members of the board.
d. The board guards against conflicts of interest between Sicirec Foundation and members of its board and/or employees.
e. The board members do not receive any payment from Sicirec Foundation for their activities.
f. The members of the board  periodically resign. Appointments and possible reappointment are for a maximum period of 4 years.
g. Share holders of Sicirec Group B.V. can not be appointed as board members. In relation to their exceptional expertise, employees of Sicirec Group can be appointed as board members of Sicirec Foundation with a limit of two board members. This guarantees the independence of Sicirec Foundation as a Foundation.

2. Policy

a. The activities of Sicirec Foundation have to be in agreement with the statutory objective.
b. The board plans a budget for the succeeding fiscal year at the end of each fiscal year. 
c. The board regularly checks and evaluates the implementation of the policy and the measure of realization of the objectives of Sicirec Foundation. 

3. Fundraising and communication

a. The identity, objective, intended projects and financial needs of Sicirec Foundation are clearly described in fundraising and communication by Sicirec Foundation.
b. Sicirec Foundation refrains from deception and comparison with other organisations.
c. Sicirec Foundation's fundraising activities are aimed at raising voluntary contributions and are not intimidating.
d. Fundraising and communication by Sicirec Foundation are subject to regulations which are recorded in a Code of Good Conduct.

4. Allocation of resources

The allocation of resources by Sicirec Foundation should be consistent with the preplanned project budget. Inconsistencies should be covered by a relevant decision by the board. Obligatory contributions are, after a decision by the board, declared in writing to the receiver of the contribution.

5. Reporting

a. The annual reporting of Sicirec foundation is executed in accordance with the Directive Reporting Fundraising Institutions (Richtlijn Verslaggeving Fondsenwervende Instellingen).
b. The report comprises of at least the following components:
- the statutory name, location and legal form;
- a description of the objective;
- the composition of board and directors;
- a management report, including the major activities in the past fiscal year;
- the annual account consisting of balance sheet, profit and loss account, commentary and auditor's report.
c. The annual reporting of Sicirec foundation is public and is established within 6 months after each fiscal year and published through the website.