İzzet Baysal Foundation

The Izzet Baysal Foundation was established at the end of 1986 by the funds earmarked from his tax-deduced wealth that he made throughout his life.

The aim of the Izzet Baysal Foundation is summarised in the introduction of the forth section of the Foundation Manifesto as: “The aim of the Foundation is to give, within its power, the needed scientific, social, cultural and health care services to the city and people of Bolu especially and to every corner and everyone within the borders of Turkey. This aim should be materialised based on the contemporary, secular, and democratic legacy of Atatürk, without straying from the way that Atatürk has shown to emulate the modern world. The founder of the Foundation, the Great Human Being Izzet Baysal’s principles of “Being meticulous and hard worker, thrifty, and avoiding wastefulness” are also accepted as the guiding principles to reach these aims.

Furthermore, to contribute to state investments, the Foundation builds any kind of educational institutions, research centres and dormitories, opens faculties and university. The Foundation also sets up any health care and social services and can run these services or donates them to the State for it to serve its people.

Ditto, to provide scholarships for intelligent, hard working but poor students, help raise them to contribute to the Nation and the Country are amongst the Foundations’ main purposes.

The wealth of the foundation has reached 34.489.272 TL as of the date of 31.12.2006. The investments and charities are achieved by the income of this wealth. 80% of this income is spent for the purposes outlined above. (The percentage was reduced in 2003 to 66.66% by the decree of the Assembly of Ministers) and the remaining is invested in the valuables for expanding the possessions and profitable business, thus avoiding the inflation.

The Foundation is run by six members chosen from the Board of Trustees. Two of the current members are the Trustees, who were permanently registered to the Foundation Document by Izzet Baysal himself, while the others are selected by the Board of Trustees in every two years. The Board of Trustees consists of 29 members. Seven of them are the Honorary Members (The Governor of the Province, the Mayor of the Municipality, the University Rector, the Head of National Education of Bolu, the Head of National Health Service of Bolu, the Head of Izzet Baysal State Hospital and the Head of Association of Manufacturers and Chamber of Commerce). Eleven trustees are the people of Bolu who are honoured by Izzet Baysal. The other eleven trustees are selected by his daughter and nephews according to his principles. For the open memberships, a selection is held by the General Assembly of the Foundation every two years.

The Izzet Baysal Foundation was officially registered as “Charity Foundation” and is exempted from taxation by the decree issued by the Assembly of Ministers dated 26th February 1987 with number 87/11540. The foundation has been honoured by several institutions for its donations and investments, and “The Foundation of the Year” twice by the General Governance of the Foundations.

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