Related Party Policy

According to Foundation Act (1.12.2015) all Finnish foundations must report in the annual activity report measures done with related parties. Measures with related parties are not forbidden but they must be based on the same conditions as the others that meets the foundation’s purpose and, they must be reported.

Finnish Forest Foundation requires grant applicants to inform in the application whether he/she belongs to a related party.

Finnish Forest Foundation’s related parties:

1) a member or debuty member of the foundation’s Board of Directors or Delegation/Administrative Council, managing director or his/her debuty and auditor
2) a family member of a person referred to in paragraph 1 (a spouse or unmarried partner, one’s own or partner’s child and their spouse and offspring and one’s own and a spouse’s parent, grandparent and their parent)
3) other close relative of a person referred to in paragraphs 1–2 (sibling and stepsister or stepbrother and their spouse and partner, child and grand child, parent or grandparent)
4) a community or foundation under the authority of a person or a group of people working together referred to in paragraphs 1–3. ”Under the authority” is defined by ownership alone or together more than 50%.