A Foundation shall be a purposeful grouping of property established for the support of publicly beneficial purpose as defined in the Law on Foundations adopted in 2002. Foundations represent an important segment of the Slovak third sector (non- profit and non-governmental) which is designed to provide funding to support publicly beneficial activities. The law defines the key characteristics of foundations, and specifies clearly the key roles of foundations, which are: a) To provide financial and non-financial means from the assets of the foundation to third parties to fulfil a public benefit purpose. b) To administer its assets, including the assets of foundation funds (donor advised funds and affiliated funds to the foundation without a legal subjectivity).