The old cow foundation (formerly known as the Inner Mongolia old cow public welfare development promotion association) was established in December 28, 2004, by the famous entrepreneurs, philanthropists, Mr. Niu Gensheng donations and initiated the establishment of the social public welfare and charitable activities engaged in the establishment of the nonpublic fund-raising foundations. The registration authority of Lao Niu Foundation is the Civil Affairs Department of Inner Mongolia Autonomous Region, and the business unit in charge is the Financial Work Office of the People's Government of Inner Mongolia Autonomous Region. Old Bull Foundation to "the development of public welfare, building a harmonious society" for the purpose of the main direction of business activities is oriented towards environmental protection, culture and education, health care, "three rural" cause and disaster relief to help the poor and other public welfare and charitable causes.
In January 2005, Mr. Niu and his family donated all the shares of Mengniu Dairy, and agreed that: during his lifetime, 51% of the dividends from the shares would go to the Old Cow Foundation, and 49% would go to his personal disposal (the actual implementation ratio was 67% of the dividends would go to the Old Cow Foundation, and 33% would go to his personal disposal); and that after his lifetime, 100% of the dividends from the shares would go to the Old Cow Foundation, and his family would only receive the equivalent of Beijing, Shanghai, Guangzhou and Shanghai. Mr. Niu only receives a living expense equivalent to the average salary in Beijing, Shanghai and Guangzhou. Mr. Niu has a concept: "From nothing to something, to satisfy the individual, this is a kind of small happiness; from something to nothing, to give back to the society, this is a kind of big happiness". Mr. Niu is the first entrepreneur in the world to donate all his shares, so he is known as the "first person in the world to donate shares". Niu Gensheng donated to the old cattle foundation shares, the market value of about 4.5 billion Hong Kong dollars, most of the shares still exist in the form of shares, has realized 955 million Hong Kong dollars. Inspired by his philanthropic behavior, Mengniu Dairy entrepreneurial team of fourteen executives **** with the decision to come from the foreign shareholders to reward 70% of the shares (about 300 million yuan) donated for social welfare and charitable causes.
Adhering to Mr. Niu's philosophy, the Society actively and regularly carries out various social welfare and charitable activities under the guidance of the Financial Work Office of the People's Government of Inner Mongolia Autonomous Region and the Department of Civil Affairs. By the end of 2009, the Association to the Red Cross Society of China, China Foundation for Poverty Alleviation, China Medical and Health Care Development Foundation, China Children's Hearing Foundation, China Association of Social Workers, China Siyuan Project Poverty Alleviation Foundation, China Association for the Promotion of Ethnic Culture, Li Ka-shing Foundation, Jet Li Foundation, Peking University, the Inner Mongolia Autonomous Region Office of Poverty Alleviation, the Inner Mongolia Charity Federation, the Inner Mongolia Youth Development Foundation, the Inner Mongolia Farmers and Herders Foundation, and the Inner Mongolia Youth Development Foundation. Development Foundation, Inner Mongolia farmers and herdsmen calligraphy and painting research, Inner Mongolia Poverty Alleviation Association, Inner Mongolia Student Union, Hohhot Red Cross, Hohhot Poverty Alleviation and Development Association, Hohhot 120 Emergency Command Center, Hulingeer County Civil Affairs Bureau, etc. more than 50 public welfare and charity projects donations totaling about 130 million yuan.
With the state's emphasis on private philanthropy and standardization, the Foundation will continue to grow and develop, and make its own efforts for the development of China's social welfare and philanthropy. According to our understanding, there are more than 56,000 foundations in the United States, with total assets of nearly 500 billion U.S. dollars (1 U.S. dollar about 8.2 yuan), of which about 85% of the independent private foundations, corporate foundations accounted for about 5%, the two accounted for more than 90% of the number and total assets, which belong to the category of "non-publicly funded foundations"; The total number and assets of community foundations and operating foundations that raise money for the public combined is less than 10%. There is no question that private foundations are the dominant force in the United States, and almost all of the large foundations are private.
Is it safe to assume that the most powerful foundations in China in the future will also be non-public foundations set up by private individuals? The situation in China is that there are more than 2 million existing private enterprises, one thousandth of which is 2,000. And the establishment of the capital threshold is not high, a little scale of the enterprise is very easy to do. So I believe that in a not too long time, we can see a large number of non-publicly funded foundations, as well as the resulting prosperity of China's foundation business and the flourishing of private philanthropy.