VELUX FONDEN key figures 2015-2019
For 2018, we introduce two additional ratios for the Foundation’s administrative expenses in percentage to illustrate the difference between expenses related to grant activities and general administrative expenses – ie expenses related to finance, communication, IT, management, etc.
The many grant areas of the Foundation deliberately apply different philanthropic approaches and have very different uses of internal and external resources depending on the procedures that we consider contribute the best to the implementation of the strategy of the individual area. The variations in the use of resources are seen, among other things, in connection with our dialogue with applicant environments, assessment of applications, evaluation of projects and programmes, project and strategy development as well as project follow-up.
Therefore, the financial ratios for 2018 have been extended as regards secretariat expenses. The ratios ”Indirect grant expenses in relation to grants”, ”Administrative expenses in relation to grants” and ”Administrative expenses in percentage” are defined as follows:
Indirect grant expenses in relation to grants
The ratio is calculated by dividing indirect funding expenses by ”Other grants for the year”.
Administrative expenses in relation to grants
The ratio is calculated by dividing administrative expenses by ”Other grants for the year”.
Administrative expenses are calculated as ”Secretariat expenses” with deduction of ”Indirect grant expenses”.
The allocation between administrative expenses and indirect grant expenses is subject to elements of estimation.
Administrative expenses in percentage
The ratio is calculated by dividing secretariat expenses in total by ”Other grants for the year”.