Donations and last wills and testaments
Most of the activities of the Finnish Society of Sciences and Letters are financed by assets received by way of donations or testaments. Such donations have been presented at various points of time in the course of the Society’s history. Even today, financial support remains an effective way to promote scientific research of the highest standard. More information and advice for those who wish to know more about how to support the Society is provided below.
Donation and last will and testament
Individuals and companies are welcome to make donations or bequeath assets to the Finnish Society of Sciences and Letters.
By making a donation and bequeathing property to the Society you can support its mission to promote science through, inter alia, publications, the award of prizes and research grants as well as lectures and conferences.
Each donation or testament made in favour of the Finnish Society of Sciences and Letters is extremely important to the Society. The donor and testator is free to determine the amount to be donated or bequeathed and choose the purpose for which the funds are to be used by the Society. Click here to read more about research grants and award criteria.
For instance, the assets to be donated or bequeathed may consist of cash, stocks, housing company shares or real property.
A donation or bequest exceeding EUR 100,000 allows the benefactor to establish a specific fund. At the donor’s or testator’s request, the fund can be named after him or her. It is also possible to allocate the funds for a purpose preferred by the donor or testator.
For more information on donations and testamentary bequests, please contact the Society’s Treasurer, Professor Niklas Bruun (tel. 050 599 6801, e-mail firstname.lastname@example.org).
It should be pointed out that certain formalities need to be followed when drawing up a last will and testament. The Finnish Society of Sciences and Letters recommends that you consult a specialised lawyer or attorney to ensure that your will is properly drawn up and leads to the outcome you want. If preferred, the Society can assist in retaining a lawyer. When a last will and testament is made in favour of the Finnish Society of Sciences and Letters, the Society may reimburse the cost of preparation of the will.
The Finnish Society of Sciences and Letters is not liable to pay inheritance or gif tax, which means that all of the donated funds and testamentary bequests can be used for promoting science.
According to the decision of the Finnish Tax Administration, a company making a donation to the Finnish Society of Sciences and Letters is entitled to claim tax deduction for donations ranging from a minimum of EUR 850 to a maximum of EUR 50,000. This decision is in force from 2022 to 2026.