Yksityissäätiö

Yksityissäätiö is a Finnish term that translates to "private foundation" in English. It refers to a type of non-profit organization established for a specific purpose, typically to benefit a particular cause or group of people. Unlike public foundations, yksityissäätiöt are usually endowed by private individuals or families, and their operations are governed by a set of statutes.

The primary objective of a yksityissäätiö is to manage its assets and generate income, which is then used to fulfill its stated purpose. This purpose can be very diverse, ranging from supporting scientific research, promoting arts and culture, providing scholarships, aiding in social welfare, or preserving historical heritage. The foundation's assets are generally managed conservatively to ensure long-term sustainability.

Establishing a yksityissäätiö involves a legal process in Finland, requiring registration with the relevant authorities. The foundation has its own board of trustees responsible for decision-making and ensuring that the foundation's activities align with its founding statutes. Transparency and accountability are key principles, and foundations often publish annual reports detailing their financial performance and the impact of their activities. Yksityissäätiöt play a significant role in the philanthropic landscape of Finland, contributing to the well-being and development of society through their dedicated work.