The Foundation’s administration
The Foundation’s operations are governed by the Foundations Act, the Foundation’s rules and regulations and, supplementing these, the Foundation’s rules of procedure.
Under the Foundations Act Section 2, the Board shall handle the Foundation’s administration and see that the Foundation’s operations are conducted appropriately for meeting its purpose (the Board’s general competence). The Board shall ensure that the Foundation’s accounts and financial affairs are controlled appropriately. The Foundation’s Board of Directors shall include six members selected by the delegation for three calendar years at a time.
Under the Foundations Act Section 15, the CEO shall ensure the fulfilment of the Foundation’s purpose and handle the everyday administration of the Foundation according to the instructions and orders given by the Board (the CEO’s general competence). The CEO ensures that the Foundation’s accounting complies with legislation and that its financial affairs are managed in a reliable manner.
The role of the Foundation’s delegation is to direct and monitor the development of the Foundation’s operations. The delegation consists of eighteen members, who are selected for three calendar years at a time. A maximum of six of the members are invited from educational institutions representing liberal education, the other twelve members must come from the Foundation’s stakeholders. The members are chosen by the delegation. The delegation chooses the Foundation’s Board of Directors, the Chairperson and the Vice-Chairperson of the Board, and appoints the members, Chairperson and Vice-Chairperson of the delegation as well as the auditors. The delegation’s appointments are prepared by a yearly-selected Election Committee.
The CEO is supported by the Executive Board.
The Board’s work is supported by the Executive Committee, the Economic Working Group and the Learning Committee.