A Grant Foundation – Challenges Related to the New Finnish Foundations Act

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We assisted a grant foundation in challenges related to the new Finnish Foundations Act. In particular, we investigated the applicability of the new act’s expansive and complex definition of related parties to the operations of the foundation. We drafted instructions and easy-to-use tools to enable the foundation to determine and manage its related parties. The instructions also covered the regulations concerning the data protection of individuals.

In this case, the reform of the Foundations Act also gave rise to the need to modify the foundation’s by-laws, and we drafted a proposal for the necessary modifications for the foundation’s board. We also drafted new protocols for the foundation’s administration and asset management based on the new act.