N.D.F.
National Defence Fund

“National Endowments” or simply “endowments” is every property offered as a donation, inheritance or bequest for the fulfilment of public benefit purposes.

This term considered from the point of view of legal wording is said to include only the benefits mainly serving national aims against another person receiving the inheritance.

Today the use of this term has a more general meaning stating not only the endowments made by donation or bequest to the State, but also the ones bequeathed to any natural or legal entity, since they are offered for the fulfilment of public benefit purposes, even the ones concerning the establishment of a legal entity serving public benefit purposes.

History

The Greek patriotism and social solidarity was apparent throughout the whole historical course of Hellenism and they are expressed not only by the offering of their own lives but also by the offering of property for the realisation of public benefit goals and projects.

The beginning of “National Endowments” can be traced back to the first years of historical antiquity in the form of subsidies, then evolved during the Hellenistic and Byzantine times, making their presence more intense during the Nation’s enslavement.

Importance of National Endowments

The offer of property through will or donation for public benefit purposes equals financially to the voluntary whole or part communisation of individual property of the person making the offer or of the donator.
Through them the State is able to conduct social policy and also to conserve state funds, which can be allocated for public investments by promoting the country’s financial development in general.

National Defence Fund’s Endowments

National Defence Fund has endowments throughout the whole Greek Area with the most important being the endowment of Maria Kosmetos.