Stichting PiSquare Foundation



Official seat of the Foundation is in the municipality of Rotterdam, The Netherlands

The objective of the Foundation is solely, or almost exclusively, to financially support education and to stimulate knowledge in the widest sense of the words. The foundation wants to reach its objectives, amongst others, by: and by anything that relates to the abovementioned or can promote the abovementioned. All of the above should be explained in the widest sense of the word.

The abovementioned objectives serve the general interest. At the moment the Foundation mainly carries out its activities in Greece. The Foundation has a long-term objective and wants to keep supporting education and stimulation of knowledge for many years to come.

The funds of the Foundation shall be formed by gifts and donations, subsidies, bequests and legacies. At the moment, the equity of the Foundation has been formed by contributions received from Ioannis Petropoulos and Anabak Trading and Investments Ltd, a company whose sole shareholder is Konstantinos Petropoulos. At the moment it is not the intention of the Supervisory Board to actively recruit additional donors. However, if new donors want to make gifts to the Foundation, this will of course be accepted by the Supervisory Board.

As of the establishment of the Foundation, and in line with its long-term objective, the Foundation keeps any funds received in a conservative way. Therefore, any funds that are received and not immediately spent on the aforementioned objectives, are kept on an interest bearing bank account. If funds are invested, the investments should bear no to low risks.
The Foundation has the intention to ultimately spend its net profit (net profit means gross income from gifts and / or investments minus (i) the expenses incurred, minus (ii) the expected inflation rate and (ii) minus expenses in relation to raising funds) as a whole but at least for 90% to charities and/or projects which support its objectives.
It is the intention of the Foundation – upon the request of the main donor – to maintain its capital as much as possible and to make donations from the return on its capital. In this way, the charitable activities of the Foundation can be continued for many years while the Foundation makes yearly donations.
This financial and investment policy enables the Foundation to create secure and stable financial position of the Foundation in the coming years. This would eventually enable the Foundation to also make donations in years in which it receives less funds from its donor(s). Furthermore, this policy would enable the Foundation to make larger donations to a project if the situation so requires.
The donations made by the Foundation may be made in the form of one-time donations or long-term benefits. The Supervisory Board Members do not wish to commit the Foundation in advance to a specific form of use. Each Supervisory Board Member may propose a charity and/or project to the Board.
The expenses relating to the (raising of) funds and the management of the affairs of the Foundation shall be in a reasonable proportion to the donations made and in accordance with the objectives of the Foundation.

The Remuneration policy:

According to the Articles of Association of the Foundation, the Supervisory Board may establish a remuneration for Board members for their activities. Management services are provided to the Foundation by an independent professional corporate services provider on the basis of a fixed fee. The Supervisory Board do not receive remuneration for their activities, according with the Articles of Association and the Policy Plan of the Foundation.

Registration Number 851807203