Typology of Strengthening Foundations as Successor to Old Foundations Post Regime Law on Foundations

After the Law on Foundations was formed, every Foundation that existed before the enactment of the Law was obliged to adjust its Articles of Association with the provisions of the Law on Foundations. If not, there will be legal consequences for foundations that have not made adjustments, or in other words, the foundation will be legally weak and will also have an impact on the assets/wealth of the foundation. The purpose of this study is to find out the legal implications for new foundations that do not comply with the Foundation Law, as well as find out the typology of strengthening foundations to adjust the condition of their assets by the Foundation Law. With the sociological juridical method, it can be concluded that for foundations that do not adjust their statutes by the Law on foundations, especially related to assets, the foundation will have difficulty managing the ownership of its assets, especially for immovable objects. Then there are two typologies of strengthening to adjust the conditions of the AR Foundation by the Foundation Law, namely from the legality side of law and audit reports. Legal legality emphasizes that achieving accountability and transparency can be carried out through non-litigation efforts which include controlling assets, increasing the capacity of Foundation organs, strengthening supervision, and mediation as well as litigation efforts in the form of court suits. While the typology of strengthening in terms of financial reports, foundations need to have routine reporting standards to report their activities and funding to the Foundation Trustees by financial accounting standards.