Säätiö

Säätiö is the Finnish term for a foundation, a legally independent nonprofit organization established to manage assets and carry out activities that advance a defined purpose. Foundations are typically funded by an endowment, donations, or bequests, and their capital is often intended to be preserved over time while the income is used to support activities or grants in line with the donor's wishes.

Common purposes include science, education, culture, arts, social welfare, and environmental protection. A säätiö may award grants or scholarships, operate programs, or own or manage property to support its mission. The organization is governed by a charter and a board or council, and its assets and operations must comply with the terms set out in its founding documents and applicable law.

Finland's säätiöt are distinct from associations or companies. They are typically established to ensure long-term support for a cause and are expected to be financially sustainable, preserving principal while distributing earnings for approved uses. They are subject to oversight and reporting requirements, including annual accounts and audits, and must operate in accordance with laws regulating foundations and nonprofit activity.

In the Finnish philanthropic landscape the concept is widely used; numerous foundations focus on research funding, cultural patronage, education, and welfare.