Stiftung
A Stiftung (in Germany) is a legal person that cares for a specific purpose with the money it was founded with. The founder (Stifter) specifies the purpose in the Satzung. There can be multiple founders.
The initial foundation money has to suffice so the purpose can be maintained on long term. Although there is no legally required minimum, the institutions generally expect a minimum of 50000 Euros (or more if the purpose looks like requiring more).
Normally it is expected, that the Stiftung uses the money to create enough money to fulfill its purpose forever.
A Stiftung can be charitable and therefore have tax advantages when later people want to donate money. That money needs to be used for the purpose of the Stiftung soon.
Sources: http://www.stiftungsrecht-plus.de/faq-zum-stiftungsrecht-rechtsanwalt-m-pruns/index.html
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