As non-profit foundations, we aim to live up to external and internal requirements when it comes to the transparency and openness of our organisation and our activities.
In order to do so, the foundations follow the guidelines on good foundation management, research integrity, and more.
In VILLUM FONDEN and VELUX FONDEN, our goal is to contribute to a sustainable societal development through our grant activities. From 2021, we also report on social responsibility. You can read more in our financial statements, which you will find here.
We attach importance to transparency and have therefore chosen to account for the foundations’ activities on a voluntary basis and to decide on how to comply with the Recommendations on Foundation Governance. Read more in the documents below to see how the foundations comply with the individual recommendations.
VILLUM FONDEN - Recommendations on foundation governance
VELUX FONDEN - Recommendations on foundation governance
The documents have been updated in 2022.
Below you'll find supplementary information on how the foundations comply with the recommendations.
Boards, guidelines, selection and compensation
Working groups, committees and compensation
Principles of Communication
When communicating we strive to be transparent about our processes and open about our strategies, activities and grants.
The primary task of the Communications Department is to support the grant area strategies and their aim of attracting the best applicants and thus the best applications. We readily participate in interviews and comments about our work – however, in reality we prefer that the aim of our actions is in focus, i.e. our grant recipients and their projects, agendas and results.
The Communications Department must ensure proactive presentation of the foundations' activities through relevant channels as well as provide timely and responsive service to the media and other stakeholders.
The Executive Director represents the foundation externally - except in business relating to the investment portfolio, for which the investment director is responsible. In special cases, e.g. regarding the co-ownership of the VKR Group or very specific projects, it may also be the Chair of the board of the relevant foundation. However, at programme level or in cases where professional insight into policy, programmes and projects is key, it will typically be the Heads of Programme.
The Head of Communications is the primary contact person for topics concerning press and communication strategy.
Legal capacity and conflicts of interest
THE VELUX FOUNDATIONS aim to ensure that rules and principles of legal capacity are adhered to and at the same time the foundations want that Danish researchers are able to participate actively on the boards of trustees and in the working groups of the foundations.
This memorandum describes the policy for legal capacity and conflicts of interest in connection with handling applications and granted projects in the foundations.
In brief, the following applies:
- Board members, working group members and secretariat staff members may not participate in the evaluation of applications where a conflict of interest exists in relation to the applicant concerned.
- Board members, members of our working groups and secretariat staff members evaluate each application to determine if there is any connection with an applicant or an expert involved in the application. If this is confirmed, the members are disqualified and will not further participate in the evaluation of such application.
- The board decides which applications are to be further processed and which are to be granted. Management and senior advisers participate in the evaluation of the applications.
- Experts who assist in the academic assessment of applications are asked to report if they are disqualified to participate in the evaluation of specific applications.
Philanthropy Europe Association – Philea
THE VELUX FOUNDATIONS follow the Principles for Good Practice as adopted by the European Foundation Centre under the Philanthropy Europe Association, Philea.
EFC Principles for Good Practice
Many of the foundations' grants support research and we have chosen to follow the principles laid out in the Danish Code of Conduct for Research Integrity.
Danish Code of Conduct for Research Integrity
The foundations follow the open-access policy for research councils and foundations.