Foundation Deed · Historical Extract

NAME OF THE FOUNDATION

Article 1: The name of the Foundation is ÇUKUROVA İLİM VAKFI.

HEAD OFFICE OF THE FOUNDATION

Article 2: The head office of the Foundation is in Adana. By a decision of the Board of Trustees, the Foundation may open branches consistent with its purpose.

PURPOSE OF THE FOUNDATION

Article 3: The purposes and duties of the Foundation are set out below:

A) To assist students attending secondary schools, colleges and universities, and to support their upbringing in accordance with national and spiritual values,

B) To undertake all kinds of scholarly, economic and social initiatives for the development of these students,

C) To provide financial and in-kind assistance, free of charge or in other forms, and scholarships to people without access to education,

D) To provide accommodation and residences for students in secondary and higher education, to build or rent them as resources permit, and to establish and manage reading and study rooms, educational camps and recreational camps,

E) To organise scholarly conferences, seminars and cultural trips,

F) To accept all kinds of donations and assistance towards fulfilling the Foundation’s purpose,

G) After completing the procedures required to fulfil its purpose, the Foundation may buy and sell movable and immovable property, lease it as tenant or landlord, and construct buildings on immovable property. It may carry out related changes to registered property classifications, subdivisions, consolidations, construction easements and condominium ownership arrangements, and undertake all kinds of legal transactions.

H) To generate income, the Foundation may establish affiliated economic enterprises or invest capital in existing or future enterprises.

I) It may undertake activities consistent with its purpose even if they are not specified in this foundation deed.

USE OF THE FOUNDATION’S INCOME

Article 5: Apart from amounts allocated to management expenses and investments intended to increase the Foundation’s income, all remaining income shall be allocated or spent on the Foundation’s purposes.

GOVERNING BODIES OF THE FOUNDATION

A) Board of Trustees,

B) Executive Board,

C) Audit Board.

A) BOARD OF TRUSTEES

Article 7: The Board of Trustees consists of the 13 people who made financial contributions to the establishment of the Foundation and whose signatures appear at the end of the foundation deed.

Ramazan BALÇIK,
Abdullah NURLU
Mehmet ÜLGER
Ali ÇAM,
Sebahattin KARABULUT
Nebi ŞAHİN
Mehmet KARADENİZ
Seyyid IRMAK
Mehmet KAYA
Tahir DURMAZ
Ali GÜNDOĞAN
Hayrullah AKILEVİ
Fatih ÜNSAL

DUTIES AND POWERS

a) To meet at least once a year, read the Audit Board’s report, and approve the prepared budget and balance sheet,

b) To fill vacancies on the Board of Trustees arising in practice or by operation of law,

c) To elect the Foundation’s Executive Board and Audit Board,

d) To supervise and audit the Executive Board, and determine remuneration for its members,

e) To amend the foundation deed when necessary and decide on the dissolution or liquidation of the Foundation,

f) The Board of Trustees meets with a majority of its members present. An extraordinary meeting may be held upon the written request of 1/3 of the members. Decisions at meetings are taken by a majority of the members.

B) EXECUTIVE BOARD

Article 8: The Foundation’s Executive Board consists of the following 5 (five) people elected from among the Board of Trustees:

Ramazan BALÇIK (Chair)
Sebahattin KARABULUT (Deputy Chair)
Hayrullah AKILEVİ (Secretary)
Mehmet KARADENİZ (Accountant)
Hacı Ali GÜNDOĞAN (Treasurer)

DUTIES AND POWERS

a) To manage the Foundation’s activities and carry out all work needed to fulfil its purpose,

b) To keep the Foundation’s books, prepare its budget and balance sheet, and convene the Board of Trustees at least once a year,

c) To employ the staff required to fulfil the Foundation’s purpose,

d) To accept assistance, grants and donations consistent with the Foundation’s purpose.

e) The Executive Board takes decisions by a majority of its members.

C) AUDIT BOARD

Article 9: The Foundation’s Audit Board consists of the following 2 (two) people elected from among the Board of Trustees:

Mehmet ÜLGER
Nebi ŞAHİN

The Audit Board examines all transactions, income and expenditure of the Executive Board and submits a report to the Board of Trustees.

REPRESENTATION OF THE FOUNDATION

Article 10: The Chair of the Executive Board is also the head of the Foundation as a legal entity. The Chair represents the Foundation. In the Chair’s absence, the Deputy Chair represents the Foundation.