Governance – guidelines we follow

As a philanthropic foundation, we want to meet both external and internal expectations for transparency and openness regarding our organisation and activities. Therefore, the foundation adheres to a set of guidelines for good foundation governance, impartiality, conflict of interest, research practices etc.

Social responsibility

Through our grants, we actively work to contribute to sustainable societal development. Since 2021, we have reported our social responsibility efforts. You can find more details in our financial statements under Finances and financial statements

Good foundation governance

We report on and strive to adhere to theRecommendations on foundation governance, similar to commercial foundations. In the table below, you can see how the foundation follows the recommendations. The table was last updated in March 2025.

The foundation's geographical spread

The applicant base for the foundation's various programmes and calls is generally anchored in Denmark, Greenland and the Faroe Islands. The specific group of applicants for each programme will be stated in the specific call.

VELUX FOUNDATION’s adherence to the Recommendations on foundation governance (2025).

Here are relevant supplementary details regarding the foundation’s adherence to the Recommendations on foundation governance.

Memo on principles of impartiality

Additional guidelines we follow

Principles of Good Practice – Philea

The foundation has acceded to the Principles of Good Practice under Philanthropy Europe Association (Philea).

Research integrity

A significant portion of the foundation’s grants supports scientific research. Therefore, we have chosen to abide by the principles of the Danish Code of Conduct for Research Integrity.

Research assessment

VELUX FONDEN is a member of the Coalition for Advancing Research Assessment (CoARA) which is committed to an increasing use of qualitative assessments, including peer review, when research and researchers are evaluated. Together with Villum Fonden we have created a joint action plan to implement the agreement.

Indirect costs for research projects

VELUX FONDEN is a party to the agreement between Danish private foundations and the Danish universities on a common model for indirect costs for research projects. This means that indirect costs are covered through a project supplement calculated from the number of project-funded full-time academic staff equivalents in certain staff categories.