Aalto University’s foundation capital has been amassed
Aalto University and the Confederation of Finnish Industries EK have reached their goal of collecting 200 million euros for the foundation capital of Aalto University by the end of June. The Finnish Government will invest in the capital 2.5 times the sum collected through donations, 500 million euros at maximum.
The collected 200 million euros together with the 500 million euros donated by the Government constitute the foundation capital of Aalto University.
Aalto University has set as its objective to become one of the world’s leading universities by 2020. Achieving this will require operational preconditions that are at an internationally competitive level. Proceeds from the foundation capital will provide Aalto University with additional funding and opportunities to direct resources at strategic focus areas. The proceeds will be spent on high-quality teaching and research, and, in the future, they are intended to cover between six and eight percent of the University’s annual operating budget of about 400 million euros.
Aalto University’s foundation capital has been collected as a joint effort by the Confederation of Finnish Industries EK and Aalto University since the establishment of Aalto University Foundation in 2008, when the founding members donated a total of 112 million euros to the capital. Since then, several foundations, companies, associations, alumni, private individuals as well as students and staff members at Aalto University have accumulated the capital with donations of varying sizes up to the current level of 200 million euros.
- We wish to express our sincere thanks to all those who have donated money to the capital. This valuable support gives us great prerequisites to generate new competence that is vital for Finland. We will now enthusiastically continue our work, which has got off to such a good start, to prove ourselves worthy of the trust of the donors, says Aalto University President Tuula Teeri.
- For its part, the foundation capital will strengthen Aalto University’s financial basis and supports its independent position. It is regrettable, however, that at the same time the Finnish Government is making significant cuts in its investments in teaching at all levels, including higher education. Our success can only be based on top competence that is of the highest order. Therefore, we must be able to direct our investments ever more efficiently in the future, states Antti Herlin, chairman of fundraising for Aalto University at EK.
- Finland needs education and research of an ever higher quality as well as inter-disciplinary cooperation. That makes it necessary for us to invest in competence and education. The fundraising effort has been a national project, Herlin emphasizes.
Aalto University’s fundraising will continue even after the collection of the foundation capital. Development of new kinds of forms of cooperation as part of strategic planning in fundraising has been underway for quite some time.
-The feedback we have received during the foundation capital collection from businesses and other stakeholders has been so encouraging that we believe the forms of collaboration will become even more diversified in future, says Jyri Tawast, Director of Fundraising at Aalto University.
For more information contact:
Timo Kekkonen, Director, EK, tel. +358 50 500 3214
Jyri Tawast, Director of Fundraising, Aalto University, tel. +358 44 261 0242