The Finnish Cultural Foundation comprises a Foundation, founded in 1939, and an Association, founded in 1937. The Foundation includes a Central Fund and 17 regional funds.
Today, the Finnish Cultural Foundation is one of the largest foundations in Europe, with assets based on donations and bequests received over more than 70 years and deposited in its Central Fund, Regional Funds, and over 700 donor funds.
The Foundation's 11-member Board of Trustees reflects a broad range of expertise in the sciences, the arts, society, and business, and is responsible for the Foundation's administration and for awarding grants, based on recommendations made by experts in the field or fields concerned. The Board meets between eight and 10 times a year. In addition to normal day-to-day decisions, the Board also discusses and decides on major project grants.
The Association Committee comprises between nine and 15 members, and is responsible for the Foundation's overall cultural policy and activities. Its Chairman also serves as the Vice Chairman of the Board of Trustees. The Association Committee elects four of its members to serve on the Board of Trustees.
The Board of Trustees elects a number of its members or members of the Association Committee to the Financial Committee, which is responsible for preparing the Foundation's budget and annual financial statements, and for deciding how to invest the Foundation's assets.
The Foundation's Supervisory Board is the organisation's most senior elected administrative body, and comprises 27 members, of which 15 are elected at the spring meeting of the Association and the remainder by the Supervisory Board. The Supervisory Board is responsible for approving the Foundation's budget and annual financial statements, and elects six members to the Board of Trustees.
The Foundation's office is based in Helsinki, and is managed by the Foundation's Secretary General. The Foundation's Regional Funds are managed by an Officer and secretaries. Each Regional Fund also has its own Administrative Committee.
The Management Group in Helsinki meets once a week to prepare material for consideration by the Foundation's decision-making bodies.