stofnanaeftirliti

Stofnanaeftirliti is an Icelandic public authority that oversees the registration, monitoring, and regulation of charitable foundations, social enterprises and other non‑profit institutions operating within the country. The agency was established in 1999 in response to growing concerns about transparency and accountability in the non‑profit sector and is responsible for ensuring that organizations comply with national legislation and ethical standards.

The chief mandate of the Stofnanaeftirliti is to maintain a national registry of foundations, provide guidance on legal and financial requirements, and conduct audits or investigations when irregularities are suspected. It also publishes annual reports on the state of the sector, offering statistical analysis of assets, funding sources and operational trends. The authority works closely with the Ministry of Finance and the Office of the Registration of Foundations, and it collaborates with international bodies that promote best practices in foundation governance.

The governance structure of the Stofnanaeftirliti includes a Board of Directors, appointed by the government, and a Director‑General who manages day‑to‑day operations. The board is composed of experts in law, finance, and non‑profit management. The agency is headquartered in Reykjavík, and it offers an online portal where foundation applicants can submit documents, apply for registration and access compliance guidelines.

Since its inception, Stofnanaeftirliti has expanded its remit to include monitoring of foreign entities seeking to establish foundations in Iceland. It has also implemented digital tools to streamline the registration process, reducing processing times from several months to a few weeks. By promoting transparency and accountability, the agency plays a crucial role in safeguarding the integrity of Iceland’s non‑profit landscape.