The official name of the foundation is Jane ja Aatos Erkon säätiö sr, and it is registered in the city of Helsinki. The foundation also uses its English and Swedish names, “Jane and Aatos Erkko Foundation sr” and “Jane och Aatos Erkkos Stiftelse sr”.
§ 2 Objects of the foundation
The foundation’s primary objects are to promote and support research and education in the fields of technology, economics and medicine.
Other objects include the promotion of arts and culture, as well as sports, physical education and people’s well-being and the nation’s interest in these areas.
The foundation implements the legislative principles of its activities by annually distributing a significant proportion of its capital revenue for purposes of public interest.
The foundation implements its objects by maintaining or supporting research and educational activities. The foundation allocates grants, rewards and allowances, supports research projects at various institutes in Finland and abroad and provides other support.
The key focus area of the foundation’s activities is supporting postgraduate studies and research.
Activities can also take place outside Finland.
§ 3 Initial capital
The foundation received EUR 1,000,000 in cash from its founder as initial capital.
The foundation may receive subsidies, donations and bequeathed funds and increase its assets, excluding by means of business activity
§ 4 Asset management
The assets of the foundation shall be managed with consideration to its current circumstances in such a way so as the foundation’s capital is not only preserved but also increased by appropriate investments.
§ 5 Management of the foundation
The foundation is managed by a board of trustees, which comprises at least five but no more than nine members. Aatos Erkko will serve as chairman of the Board for as long as he shall live or until he personally wishes to resign from the post. Jane Erkko will serve as vice-chairman of the Board under the same terms. Upon the death or resignation of Aatos Erkko and/or Jane Erkko the Board shall appoint one of its members as chairman and/or vice-chairman.
The Board may appoint a proxy for up to and including three Board members. Proxies may participate at Board meetings but they are only entitled to vote if a quorum is not present.
A member or a proxy who has reached the age of 75 or will reach that age during their term in office may not be appointed member of the Board.
The Board appoints a secretary for the foundation and sets forth his/her duties.
§ 6 Accounting year
The foundation’s accounting year is a calendar year.
§ 7 Annual general meeting
The annual general meeting shall be held once a year by the end of March. The Board may hold additional meetings if needed.
§ 8 Representing the foundation
The chairman and the vice-chairman of the Board or two members of the Board jointly shall represent the foundation. In addition, the foundation may decide to grant the right to represent the foundation to other persons.
§ 9 Action committees
The Board may set up action committees to deal with issues concerning the foundation’s activities. The Board appoints the committee’s chairman and vice-chairman and at least one but no more than five members who must be experts in the field in question.
The task of the committee is to submit proposals to the Board concerning 1) the method and time of announcing application periods for grants, rewards and allowances, 2) the acquisition of expert statements, and 3) the distribution of grants, rewards and allowances as well as providing educational and other support measures within the committee’s scope of influence. In addition, a committee can take other actions to help and promote the foundation’s activities in the respective field in accordance with the Board’s instructions.