Aalto University principles in fundraising
Principles in fundraising
Approved by Aalto University Foundation Board, 3 June 2020.
1. General Principles
Aalto University has a national mission to strengthen Finland’s innovation capacity through first-class research, artistic activities, and education. Our strategic aim is to create a more sustainable future for the whole of humanity.
Donations are a vital part of enhancing our purpose and in strengthening our role as a place where science and art meet technology and business. Long-term donor relations are one of the cornerstones of our interaction with society.
The donation culture of Aalto University is based on respecting the will of the donor, open communication, and building long-term donor relationships.
In these Fundraising Principles, donations are defined as support to Aalto University without direct economic benefit in return to the donor.
Aalto University adheres to the principles expressed in the International Statement of Ethical Principles in Fundraising:
- Honesty: Fundraising at Aalto University is honest and truthful, with the aim of upholding the trust of the donors and the general public.
- Respect: Aalto University's fundraising acts with respect to the donor and the university community as the beneficiary. The will of the donor is respected, and the long-term aims of the University supported.
- Integrity: Aalto University follows legislation and regulations in its fundraising. All potential conflicts of interest are disclosed and any personal and professional misconduct is avoided.
- Transparency: Aalto University reports on the use, management and impact of donations in a clear, accurate and comprehensible manner.
- Responsibility: Aalto University acts responsibly in all its fundraising for the benefit of the common good, implementing high professional standards and encouraging diversity in our fundraisers and practices.
2. Donation Opportunities at Aalto University
Aalto University raises donations to the University generally, to its three fields (art and design, business, as well as science and technology) and to its Schools. Donations to these purposes may be endowed or expendable, according to the choice of the donor.
More targeted donations for specific purposes are raised toward the strategic aims of the University and accepted as mutually agreed with the donor. Such donations may be endowed and/or expendable.
3. Accepting Donations
In accepting donations, Aalto University requires that:
- The donation and its terms are in line with Aalto University’s values, purpose and strategy
- Aalto University has adequate knowledge of the donor’s background and the origin of the donation
- The donation and its terms do not conflict with the university’s code of conduct
- Accepting the donation and its terms does not risk the university’s reputation or the reputation of the other donors
- The expenses or other liabilities arising from the donation to Aalto University are estimated to be reasonable.
When making a donation, the donor signs a deed of donation that defines the purpose, amount, and terms and conditions of the donation. Smaller donations are accepted online without a deed of donation.
4. Donor Relations and Communications
Aalto University aims at establishing long-term donor relations by offering diverse donation opportunities and donation arrangements to alumni and private individuals, foundations, companies and other types of donors.
Aalto University engages with donors via multiple channels such as personal meetings, events organized by the university, and social media, as well as providing information on the website and through publications.
The University publishes an annual Review for Donors for all donors and the general public, with information on the management and use of the donations and their impact.
More detailed information on the use of donations for specific purposes are provided as agreed with the donors to those purposes.
All donors who so wish are recognized on the University’s website, and on the main donor wall on campus. Exceptional donations may be recognized in additional ways agreed upon between the University and the donor.
5. Usage and Management of Donated Funds
Donations are managed in funds according to the purpose defined in the deed of donation, or as indicated on the University’s donation website for smaller donations. These funds are reported annually in the Review for Donors and as a part of the University financial statements.
Donations to expendable funds are used for the current needs of the University.
Donations to endowed funds are in invested in the University’s endowment portfolio, and the return is used for the University’s long-term purposes as agreed with the donor. The value of the endowed funds is preserved over time by using only the real return of the donation.