Home to the skylark - The Velux Foundations

Examples of funding areas
Human sciences
Collective core group grants with an annual fund-
ing allocation of DKK 25-30 million. Funding for
independent research in all fields of humanities
research, together with anthropology, political
science, sociology, psychology and public health
science with a humanities component. A typical
research project lasts 3-4 years and usually re-
ceives funding of DKK 5-6 million.
In addition to which, individual postdoctoral
grants of DKK 1-2 million per project.
Gerontological research and ophthalmological
research
Typically PhD projects with grants of DKK 1-2
million, but also larger amounts for procurement
of new equipment at university hospitals and re-
search institutions, together with major multidis-
ciplinary research projects.
Active senior citizens
A large number of small grants for active senior
citizens.
Social purposes
Funding for activities to counter social vulnerabil-
ity, especially among people with disabilities and
homeless people.
Culture
For example joint donations with the VILLUM
FOUNDATION for heritage and preservation-
worthy monuments, archaeology, museums or
other cultural institutions.
Administration percentage
The two foundations share one secretariat and
have a joint administration at their disposal. How-
ever, the statutes of the two foundations differ in
certain respects. Consequently they have different
portfolios, and the number of applications and
the size of donations also vary.
This means that the administration percentage
differs within the two foundations. The VELUX
FOUNDATION for example makes a large num-
ber of small grants to active senior citizens (a row-
ing boat, a book publication, a set of personal ar-
chives), whereas the VILLUM FOUNDATION
typically funds major projects.
The administration percentage is the sum of the
total expenses (management, operation, rent, fees
for advisers and experts, etc.) incurred by each
foundation divided by the year’s total donations
amount for each foundation.
All figures stated in
DKK 1,000
VILLUM
FOUN-
DATION
VELUX
FOUN-
DATION
Total foundation operating
costs 15.569 9.033
Foundation’s donations
in 2010 290.508 121.469
Administration
percentage 5,4% 7,4%
YEAR’S RESULT AND BALANCE 2010
All figures in thousands DKK VILLUM FOUNDATION VELUX FOUNDATION
INCOME STATEMENT 2010 2009 2010 2009
Dividend from shares in VKR-Holding 900.640 314.872 - -
Received donation from the VILLUM FOUNDATION - - 60.000 2) 20.000
Income from securities and bank deposits 113.526 175.546 58.819 72.037
Profit for the year 1.014.166 490.418 118.819 92.037
Board 750 600 875 700
Other administration costs 14.819 11.354 8.158 9.107
Total management and administration 15.569 11.954 9.033 9.807
Annual result 998.597 478.464 109.786 82.230
Annual grants 290.508 193.821 121.469 48.611
BALANCE AS PER 31. DECEMBER 2010 2009 2010 2009
20 DIVERSIFIED DONATIONS VILLUM FOUNDATION AND VELUX FOUNDATION 21
Assets
Tied-up foundation assets:
Shares in VKR Holding (nominal value) 90.000 1) 90.000 - -
Securities 1.876.906 1.615.264 1.862.174 1.648.702
Office premises 27.328 27.539 27.328 27.328
Bank balance and other receivables 282 5.118 14.975 18.695
Total tied-up foundation assets 1.994.516 1.737.921 1.904.477 1.694.725
Available foundation funds:
Securities 1.434.692 854.970 232.790 190.850
Bank balance and receivables 61.820 26.835 27.419 26.648
Total available foundation funds 1.496.512 881.805 260.209 217.498
Total assets 3.491.028 2.619.726 2.164.686 1.912.223
Liabilities
Awarded, not yet disbursed amounts 636.664 607.290 226.615 172.824
Deposits for later use 771.790 223.449 33.837 45.797
Tied-up equity 2.082.574 1.788.987 1.904.234 1.693.602
Total liabilities 3.491.028 2.619.726 2.164.686 1.912.223
1) According to VKR Holding’s annual report as per 31. December 2010 the net asset value of these is equivalent to 11 billion DKK (2009: 10,1 billion DKK)
2) The VELUX FOUNDATION received a donation of further 40 million DKK to their tied-up foundation assets (2009: 40 million DKK)