Abstract The issue of liability is one of the most central in Austrian private foundation law. Experience has shown that the often close relationship between the generation of the first founders and the members of the foundation board is a reason for underestimating liability. Many foundation board members are unaware that the Austrian Private Foundation Act (Privatstiftungsgesetz) regulates the liability of the foundation board by analogy to the liability law provisions for corporations—and thus rather strictly. What often starts as a “friendship service” can have considerable consequences under liability law.