ASBL (Association Sans But Lucratif) - NPOs (non-profit association)

The word is out! An ASBL !! But what is a non-profit organization? A non-profit association !!
An ASBL is a structure that does not engage in industrial or commercial operations and does not seek to provide its members with material gain.

A nonprofit organization is a group of natural or legal persons that have an activity with selfless purpose.

The law thus defined the legal status of your project. The great advantage of defining a "legal form" different from you and your friends collectors is that it distinguishes the responsibilities and each of heritage. Your ASBL shall be responsible and has its own heritage, regardless of your responsibility and your personal assets.

Members of a ASBL therefore have limited liability, this obviously does not mean that fraud, malfeasance or mismanagement are allowed !!

Moreover, the status of ASBL (non profit organization) is required to obtain grants.

So from the moment your hobby collector leads you to incur a liability (legal, financial, ...), it's time to think about creating an ASBL.

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