The simplest and most straightforward way for people making bequests and donations is to specify that they are used to fund general grants and awards made by the Foundation.
The Foundation particularly needs assets that can be used decades from now to support new and dynamic work.
Donor funds, donor grants, and other options
If donors wish to direct their bequest or donation to a specific area or otherwise ensure that their name lives on, they can request that a donor fund be established in their name. Donor funds can be established by the Finnish Cultural Foundation or one of its regional funds.
The minimum capital required for establishing a new donor fund is €100,000, to ensure that sufficient income is generated within a reasonable period of time. Grants or other awards can be made from donor funds either annually or at agreed intervals, depending on the amount of revenue its assets generate.
Bequests and donations of less than €100,000 can be distributed in the form of donor grants over a specific period until the capital is exhausted.
Funds from collections organised on an anniversary or similar occasion or in remembrance of someone can be used to create a donor fund or be channelled to a donor fund.
Funds bequeathed or donated to the Foundation are included in its investment portfolio, which is managed as a single entity. After the costs of administering and investing assets have been deducted, the revenue on the capital invested is divided between the Foundation's donor funds in accordance with their size.
The Foundation's investment decisions are made on the authority of its Financial Committee.
20% of the revenue from donor funds established with a specific area of support in mind is transferred annually to the Foundation's Central Fund to be used to support areas that lack any dedicated funds of their own. This does not affect donor funds intended to support the arts and the sciences in general.
Organisations are legally entitled to write off their donations against tax under certain terms and conditions.
Local tax offices and the Foundation can provide further information on the details of this if required.