Giving to an endowment fund: what French law provides

2026-11-23

An endowment fund is a fairly recent legal creature — the French law of 4 August 2008 — and few people know its tax regime. That is a pity, because it is generous, and it is precisely what allows an institution like ours to exist without public subsidy. Here, without jargon, is what the law provides.

If you are an individual: 66%

A gift to the Maria Callas Endowment Fund entitles you to an income-tax reduction equal to 66% of its amount, up to 20% of your taxable income (Article 200 of the French General Tax Code). Any excess may be carried forward for five years.

In practice: a gift of €100 costs you €34. A gift of €1,000 costs €340. A tax receipt is issued for every payment.

If you are a company: 60%

The tax reduction is 60% of the gift up to €2 million in donations, then 40% beyond, capped at €20,000 or 0.5% of pre-tax turnover — whichever is higher (Article 238 bis). Any excess may be carried forward over five financial years.

Corporate philanthropy also permits benefits in return, within limits set by the tax authorities. Let's discuss it.

If you are planning your estate: 100%

This is the least known provision, and the most powerful. Legacies and gifts made to an endowment fund meeting the general-interest conditions are fully exempt from transfer duties (Article 795, 14° of the General Tax Code).

In other words: everything you pass on serves the mission, with nothing deducted. For a collection, an artwork, a portfolio or a sum of money, the difference from an ordinary transfer is considerable. Speak to your notary, and write to us: such projects are prepared carefully, and in complete confidence.

One useful clarification

You will sometimes read that a gift to an endowment fund qualifies for the 75% reduction on the French wealth tax on property (IFI). This is not correct: that advantage is reserved for other categories of organisation. We prefer to say so plainly — a misinformed donor is a disappointed donor.

What your gift funds

Nothing abstract: the conservation of the collection, the restoration of tapes and negatives, digitisation, and the opening of the Maria Callas Museum in Paris. Make a donation · Join the Friends of Maria Callas

This information is indicative and reflects French law as applicable in 2026; it does not replace the advice of your own counsel. These provisions concern French taxation.

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