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 strive to live up to the guidelines for good foundation management that apply to commercial foundations etc.

Foundation Governance

VILLUM FONDEN and VELUX FONDEN attaches importance to transparency and have therefore voluntarily chosen to account for the foundations activities and to decide on how to comply with the Recommendations on Foundation Governance. Read 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 March 2018 for VILLUM FONDEN and in april 2018 for VELUX FONDEN.

Below you'll find relevant information on how the foundations comply with the recommendations.

Trust deeds

Boards, guidelines, selection and compensation

Working groups, committees and compensation

Total remuneration to Management amounted to DKK 4,345k in 2017 which is equivalent to 1.9 full-time positions (incl share of remuneration to chief investment officer).

Legal capacity and conflict 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 conflict of interests 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 decide which applications that 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.

Memorandum: Principles of legal capacity

European Foundation Centres

THE VELUX FOUNDATIONS follow the Principles for Good Practice established by the European Foundation Centres.

EFC Principles for Good Practice
 

Research integrity

Many of the foundation’s 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

Open Access

The foundations follow open-access policy for research councils and foundations.

Open Access policy