Transparency of The Foundation and LAMA.
Sources of the Museum’s operational budget. The Foundation ’s annual budget has consisted mostly of contributions made by its founder's Francisco Gausachs And Linda Grandia. The museum will be posible with the contributions made by latin american goverments, European Union cultural funds as well as contributions from the private sector and will generate revenues that help cover approximately 20% of its annual budget, through admission fees, courses, guided tours for special groups, patronage, the Asociación of friends, shop and store. For additional information =>
External audits. LAMA ’s finances are subject to annual review by external auditor.
Frequently asked questions.
-To whom does LAMA’S patrimony: - the building and the Collection - belong?
The Gauschs Collection and the museum building are the patrimony and responsability of the Gausachs Foundation. According to the Law of Foundations, the building and the works of art in the Collection belong neither to the founder nor to his family, Neither is it permitted the founders or any other member of the organization, from any category, to assign themselves or acquire rights to its patrimony. This remains the property of the foundation as a body, and not that of each associate individually, nor of a particular group of associates.
The Foundation’s assets cannot be restored to its members. They may only be directed, in case of bankruptcy, to other bodies operating for the public good, on condition that these be judicially recognized as such (and not to commercially-oriented organizations).
What happens when a person, institution or public organization donates money or assets to LAMA?
Any donation made to LAMA is a donation to the Gausachs Foundation. The Foundation’s patrimony is regulated in The Nederlands by the Law of Foundations, which makes donated money or assets the Foundation’s exclusive property.
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