Korff Stiftung GmbH

Why Korff Stiftung GmbH.:

A foundation is treated for tax purposes like an association. Low sales to about 32,000 euros per year are tax-free. However, higher activities make the completion more complicated.

Due to the rising art sales, in 2005 the Board of Directors and the advisory council of the Korff Foundation have decided to separate the selling of art from the foundation. In addition the foundation has brought Korff Stiftung GmbH to life. This GmbH serves exclusively the Korff Foundation.

The Korff Stiftung GmbH belongs to 100% the Korff Foundation. Therefore all the proceeds also belong to the foundation. The profits are for the charitable use. The supervisory authority of the Bavarian State and the tax office are watching over the activities of the foundation.