Sponsorship

Sponsorship by Corporations

The business community is in a position to provide financial support to NGOs with no negative impact to the bottom line. Sponsorship, under Romanian law, occurs where two parties agree on the transfer of ownership of goods or financial means to support the not-for-profit activities of the beneficiary (see the Law on Sponsorship in English here: http://www.legislationline.org/documents/action/popup/id/15965 ).

Under the Sponsorship Law, a sponsor can be a business company or a PFA (a Romanian – Commercial – Authorized Physical Person).

A company that grants sponsorships under the Sponsorship Law can deduct up to 0.3 per cent of its turnover or 20 per cent of the profit tax due, whichever is less. Therefore, a corporation can sponsor an NGO and, up to a certain limit, deduct the amount when reconciling taxes at the end of the year.

So the contributions for the NGOs are coming from the state budget, but the corporation has the ability to allocate the funds and select the beneficiary.

How can your corporation sponsor us?

It is very simple! Your corporation and the Blythswood Charitable Organization complete this Sponsorship Contract. Once the contract is signed by both parties, it’s just the matter of a simple bank transfer before Blythswood can obtain the funds and benefit from the sponsorship.