Donations to Aalto University School of Business
Donated funds are allocated by the Foundation as grants to the areas of teaching and research specified by the donor. The types of donation are thesis and dissertation donations, honorary fund donations, anniversary donations, and other donations. All donations, from the smallest of the very largest, are important in the development of Aalto University School of Business.
According to the decision of the Finnish Tax Administration, donations of between €850 and €50 000 which are given to the HSE Support Foundation for the purpose of promoting science are tax-deductible for the donating organisation.
The Board of the Foundation gives out grants two times a year.
Decisions on the distribution of thesis and dissertation grants awarded from donated funds are made also outside of the normal application periods. The Foundation’s interaction with both donors and grant recipients is professional and flexible.
The HSE Support Foundation receives annually thesis and dissertation donations and awards grants from these for work such as pro gradu studies.
New and up-to-date information about developments in the field
For Aalto University School of Business, Pro gradu research projects are an active channel for cooperation with the business world.
An organisation making a thesis and dissertation donation to the Foundation may specify the research area and research subject field which the donation is intended for. The research area and subject field should be defined in general terms.
The donated funds are used for the purpose specified by the donor as individual grants and to reimburse research expenses (travel, material acquisition or other expenses).
Donation size can be freely decided by the donor
The recommendation is that a donation intended for use in pro gradu studies should be no larger than €15 000, while a donation for licentiate and doctoral research should be a maximum of €30 000. For all donations, 20% is reserved for use in the general promotion of Aalto University School of Business’s research and teaching activities. The thesis and dissertation grants awarded by the HSE Support Foundation are thus normally maximum of €12 000 for pro gradu studies and a maximum of €24 000 for licentiate and doctoral research.
According to the decision of the Finnish Tax Administration, donations of between €850 and €50 000 which are given to the Foundation for the purpose of promoting science are tax-deductible for the donating organisation.
A donation’s allocation to a particular research area is specified in writing in the deed of donation which is signed by the donor. The donor sends the deed of donation to the Foundation and pays the donation to the Foundation’s account. The Foundation allocates the donated funds as grants to the research area specified by the donor.
Grant application procedure
The person carrying out thesis or dissertation research fills out the grant application form, which is addressed to the Board of the Foundation and contains the topic of their research work. With this form, they apply for a grant from the funds donated for carrying out research work. The application must contain a reference from the research supervisor or examiner.
With authorisation from the Board of the Foundation, the Grant Committee normally issues grants on a monthly basis from funds donated for research purposes.
Further information on the donation procedure can be obtained from the Foundation’s Office Manager Tuula Murremäki +358 50 373 2241, [email protected]
Anniversary gifts (e.g. birthdays or jubilees) may, if so desired, be directed by the individual or organisation concerned to a special anniversary fund, the accumulated capital of which is then distributed as grants. This is an excellent way to support an Aalto University School of Business research or teaching field which is considered important by the gift recipient and thus to leave them with a lasting memory of the day.
For funds gathered in an anniversary collection or for some other kind of anniversary donation, it is also possible to create, if desired, a permanent honorary fund which carries the name of the gift recipient. The profits from this fund are then distributed annually as grants (see Honorary fund donation).
Further information on the donation procedure and the operations of anniversary funds can be obtained from the Foundation’s Office Manager Tuula Murremäki +358 50 373 2241, [email protected]
A lasting influence
A fund that carries the name of the donor is an excellent way to support Aalto University School of Business’s research and teaching activities as well as it students. A company, other type of organisation, or private individual may establish through a donation a permanent honorary fund from which the profits are distributed as grants. During the process of establishing the fund, the donor specifies together with the Foundation the principles for distributing the funds to the desired research and teaching fields of the School of Business.
Examples of honorary fund donations
In 1987, the Salmi Virkkunen & Helenius Oy Fund was established for the purpose of developing and encouraging research, teaching and study of auditing, bookkeeping and financial statement practices at the Aalto University School of Business. This is achieved through issuing grants for research, books, theses, dissertations and presentations. With the subsequent change in the company’s name as a result of a merger, the name of the fund was changed in 1996 to the SVH Coopers & Lybrand Oy Fund and in 1998 once again to the SVH PricewaterhouseCoopers Oy Fund, before finally changing again in 2001 to the PricewaterhouseCoopers Oy Fund. Since its establishment, the company has almost without exception made annual additions to the special fund. In addition, the company has directed into this fund its gifts for the school’s 40th and 50th anniversary in 1994 and 2004, as well as its birthday gifts for leading individuals at the school.
In 1984, on its 150th anniversary, Oy Wärtsilä Ab made a donation of 500 000 marks, which was used to establish the separate Oy Wärtsilä Ab Jubilee Fund. Grants are awarded from the fund for the overseas trips of University School of Business teachers and researchers and for invitations to foreign visiting lecturers, with the goal of promoting the internationalisation of teaching and research, and through this also the internationalisation of Finnish companies.
The purpose of the Chancellor Jaakko Honko Fund is to issue grants for business research and studies and for organising seminars in order to promote the internationalisation of Aalto University School of Business students, with a particular focus on graduate students.
The Oy G.W. Sohlberg Ab Fund, on the other hand, seeks to develop and encourage, by issuing grants, research and study in the disciplines represented at the Aalto University School of Business, including that aimed at or related to the basic business degree. Research and study aiming at the development and understanding of sectors specified in the company’s current corporate charter have priority.
Further information on the donation procedure and the operations of honorary funds can be obtained from the Foundation’s Office Manager Tuula Murremäki +358 50 373 2241, [email protected].
Bequests offer an opportunity to develop research and teaching at the Aalto University School of Business. A bequest to the Foundation ensures that the funds will be used for the purpose specified in the donor’s will. The HSE Foundation can arrange legal counsel when the will is being drawn up.
For further information about the procedure for bequests, contact the Foundation’s Office Manager Tuula Murremäki, Tel. +358 50 373 2241, [email protected].
All donations are important
In the future, the promotion of research and the development of teaching at the Aalto University School of Business will require, apart from basic public funding, an ever increasing volume of other resources. Hence all donations, large and small, are important. A purpose and means of implementation can be found for all donations.
Alumni and other donations
Other donations to the HSE Foundation can, for example, be made in conjunction with alumni reunions, for the promotion of research and teaching at the Aalto University School of Business, or for the development of alumni activities.
Are you interested in alumni activities? For additional information, see the alumni relations website of the Aalto University School of Business.
Further information on different forms of support and the donation procedure can be obtained from the Foundation’s Office Manager Tuula Murremäki, tel +358 50 373 2241, [email protected].