Foundations are regulated by the Law on Associations and Foundations. The legal definition is as follows: “A foundation shall be a legal entity, established for the purpose of acquiring and governing of property and assets, in accordance with this Law” (article 27, LAF). There is no other law in which other legal types of foundations are prescribed. Foundations can pursue a variety of purposes, with just a few limitations defined in the LAF. Information on public-benefit foundation assets is not available in public records. Based on the available information there are no endowed foundations in North Macedonia.