Bequests and donations

Donors may specify that the donated funds can be freely used for grants and general activites by the Finnish Cultural Foundation. The Foundation particularly needs assets that can be spent for new purposes decades from now.

If donors wish to direct their bequest or donation to a specific area or ensure that their name lives on, they can request that a Donor Fund be established in their name, either in the Central Fund or one of the Regional Funds.

The minimum capital required for establishing a new Donor Fund is €100,000, to ensure that sufficient revenues are generated within a reasonable period of time. Grants can be made from Donor Funds either annually or at agreed intervals, depending on the amount of revenue generated.

Bequests and donations of less than €100,000 can be distributed in the form of donor grants until the capital is exhausted.

Funds from collections organised on an anniversary or in remembrance of someone can be used as donor grants or be channelled to an existing 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 administration have been deducted, the revenue on the capital is divided between the Donor Funds.

20% of the revenue from Donor Funds established for a specific purpose is transferred annually to the General Fund to support areas that lack any dedicated funds of their own. This does not affect Donor Funds intended to support the arts and sciences in general.

In Finland, organisations are legally entitled to write off their donations against tax under certain conditions. Local tax offices and the Foundation can provide further information on the details.