Foundations and Endowments

In Norway there are thousands of small and large foundations and endowments. Many established as nonprofit corporations with a principle purpose of making grants to individuals, organizations or institutions for educational, cultural and other charitable purposes.

Ræder is a consultant and business manager for a number of foundations and grants, among them Jansons legat and Eckbos legat, the latter of which is one of Norway’s largest publicly beneficial, philanthropic foundations.

Given the distinctive nature of foundations as self-governing institutions, with a Board of Directors serving as the controlling body, both the foundations and board members are subject to a broad range of special legal requirements. These requirements, not least pertaining to how the board manages the foundation and its funds, have been significantly strengthened in recent years. Ræder has extensive experience establishing, managing and administering foundations and endowments.

We can advise you on

  • Establishing foundations, preparing articles of association and objectives
  • Amendments and adjustments to the articles of association.
  • Conversion, merger and dissolution of foundations
  • Corporate governance/internal controls for foundations
  • Organisation of justifiable asset management
  • Organisation of distributions and distribution practices
  • Assistance with foundation law issues and the relationship to the public authorities
  • Tax issues related to foundations
  • Business practices

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