Charity and Support fund Atviras Kelias (Open Way)

Charity and Support Foundation „Atviras Kelias“ („Open Way“)Vision To uphold Lithuanian economy, to help people embody their financial aims.Main aims • To give opportunities to people who want to make their dreams come true; • To raise the level of Lithuanian youth in order to subserve intensification of Lithuanian economy; • To render financial support and realise future plans; • To stimulate philanthropy.The main idea of the foundation is education and stimulation of the enterprise of those people who have less or no financial possibilities to realise their bussiness idea, for example, orphans, welfare recipients and etc.Programs of Foundation Sponsorship1. Career (opportunity to learn and get a well-paid job). 2. Idea for the bussiness (financial support for the realisation of the bussiness plan). 3. Educative activity. 4. Support of the others socially beneficial funds.CareerEveryone who wants to attend a project must fill up a requisition form which contains the questionnaire and description of the idea. Examples of the filling the requisition form up will be placed on the Internet. Other ways of bringing documents are possible, such as posting, filling up in the Intenet and etc. No exact terms are put for the presentation of idea. Within 21 days an answer will be sent by e-mail or other means of communication if the requisition form meets the requirements. If an answer is positive, this form is relegated to the Committee which is responsible for the consideration of the business idea. The consideration will take approximately 42 days. The registered letter is sent if requisition form is accepted by the Committee. Then a special meeting of the Committee and author of idea is organized to discuss conditions of possible support and applying the undertakings. The author must have all documents (identification card, requisition form, registered letter).The foundation contracts to provide the receiver of support by ensuring him a good education in order to help him get a desirable job.The opportunity of choosing new employers is possible to the sponsor of foundation. In that case the foundation undertakes obligations to suggest reliable and additionally educated people.Undertakings of the receiver of supportIf the receiver of support who started working and gets salary which is more than 4 minimal month salary, he has to start redeeming support which was given. The receiver has to reimburse 125 per cent of given support in total. The term of repaying is not limited, the deals are possible. Repayment can be different, 1-15 % of income; it depends on monthly disposal income. Moreover, the receiver can pay all the sum outright or seriated. There is an opportunity to repay a given support by working in the foundation “Open Way”.Business IdeaAll people who have their business idea can attend in this project. Ideas which are connected with the business which helps to the other people take priority. Everyone who wants to attend a project must fill up a requisition form. Examples of the filling the requisition form up will be placed on the Internet. Other ways of bringing documents are possible, such as posting, filling up in the Intenet and etc. If the requisition form meets the requirements, it is relegated by the Committee. Experts from banks, judges and adepts from different universities will form the Committee. The consideration will take approximately 42 days. If requisition form is accepted by Committee, a registered letter is sent to the author of idea.Loan returnIf business turnover exceeds the received support, receiver must compulsory be refund given money. Person who got this support must return 150% (50 % success pay). The company which returned a loan pledges to pay 1% of revenue.If business fails, the author is allowed not to return given money.All company property belongs to the fund, but the fund performs “nightly keeper” role in order to avoid squandering money. The company is administrated by the author of idea. All property is descended to the author when all contract conditions are performed and 150% of received sum is refunded.A person who got this support will be consulted about business for free till company property will be transferred to the support receiver.Benefactor positionBenefactors are these people who contribute money to the fond.Benefactor right: Benefactor can contribute a desirable sum of money, get all the information about fund actions, money resort, has an opportunity to attend in the fund actions. If benefactor agrees, he will be publicly named.Order form and addition: Requisition form includes: -form -business planStaff of the fundAdministrating sectionThis section answers questions and is responsible for the order receptions, e-mail, and also directs all the incoming information to the suitable section. Administrating section is responsible for the upkeep of the internet page (information notice, page renovation), takes care of propriety of the requisition forms, filling and presentating ideas to the Committee.Committee of idea considerationCommittee considers presented ideas, support is given for the best of them. When support is given to the business idea, the Committee has to prepare a short description and send it to the administration section for the further actions.Law sectionThis section is responsible for the composing contracts and looks after if it is stood by the decision.Marketing sectionLaw section is responsible for the advertising the fund, gaining in popularity and projects which are given by the Committee, realization, looking for the partners and collaborating with similar funds and organization.Support and charity fund “Open way” is functioning by the Lithuanian charity.a