| Sprouted and developed in the1980s in China, Foundation grows rapidly eventhough it has a late start. The Foundation plays a significant role in public welfare,such as the integration of social resources, making up for the nation’s financialdeficits, promoting philanthropy development. As a new social organization,Foundation’s information disclosure is gradually appreciated by the academia withthe public’s increasing interest in public welfare and more and more foundationscredit crisis emerging. In recent years, the Foundation’s reputation has been widelyquestioned, causing a significant decrease in public contributions, which has a hugenegative effect on Foundation’s development. It needs urgently to rebuild andenhance the image of the Foundation. From the perspective of legal regulation, thispaper will analyze and identify the Foundation’s information disclosure issues, putforward corresponding countermeasures and improve the related legal norms, toensure the Foundation’s information disclosed timely, completely and accurately, andrebuild the Foundation’s reputation.Starting from the existing legal norms, this paper will summarize the regulationsof our current legislation on the Foundation’s information disclosure from fourdifferent dimensions: the law, the administrative norms, the regulations and othernormative documents. Combining the application of the law and regulations of theFoundation’s information disclosure with its realistic condition, this paper willdisclose thoroughly the real situation of the Foundation’s information disclosureregulation in China. There are still many problems with the Foundation’s informationdisclosure in our country. Specifically, the sketchy legislation on Foundation’sinformation disclosure causes incomplete information disclosure; in the legal norms,there is no explicitly designated news media who can timely disclose the information;the way and the poor quality of the information disclosure generally dissatisfies thepublic; the supervision mechanism of the Foundation information disclosure is notperfect, which cannot guarantee the information disclosed timely, completely and accurately; Foundation applies dual management system with no clearly definedregulatory responsibilities, and staving off default and competing supervision issuesseriously weaken the supervision of the Foundation. As the last bulwark of legalregulations, legal liability protects the rights and obligations in the legal norms. Butthe obligations regulations of the Foundation’s information disclosure do not play arelevant role due to its rough definition and low maneuverability. Additionally, owingto its responsibility singularity, its legal remedies also play a limited role. Finally,based on information disclosure issues, this paper will put forward proposal ofimproving the legal system of Foundation’s information disclosure from theperspective of legal regulation. In terms of ways of information disclosure, theFoundation should designate news media for information disclosure, establish a"brand", strengthen the establishment and promotion of the Foundation’s officialwebsite, to ensure information disclosure updated timely and effectively according tothe nature and the period of the specific information. In terms of supervision ofinformation disclosure, encourage the foundation to establish with registration andenhance the daily supervision. Improve the incentive system and optimize the taxincentive policy. In terms of the relief system, further refined and definiteadministrative responsibility needs to be made to improve the feasibility andexecution of administrative punishment. Try increasing the civil liability and criminalliability remedies to build a comprehensive relief system of the Foundation. In termsof the legislation of foundation’s information disclosure, improve overall legalhierarchy of Foundation, straighten out relevant administrative rules and regulations,and develop a detailed and specific implementation regulation. |
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