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

We attach importance to transparency and have therefore voluntarily chosen to account for the foundation's 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  2021.

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

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 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 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.

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