The Law defines the types of charitable organizations (foundations), the procedure for their establishment, activities and regular reporting of charitable organizations in Ukraine. It also regulates the difference between such generally accepted concepts as “charitable foundation” and “public organization”, and introduces new terms in this area: “charitable grant” and “charitable endowment”, it significantly expands the possibilities of activities in the field of charity. it establishes the right of philanthropists to control the use of collected charitable donations.

It is practically the main law that regulates all activities of non-profit foundations of territorial communities, which is especially important for this type of funding.