According to a report commissioned by the Association of Finnish Foundations, foundations in Finland funded science with 295 million euros, art with 85 million euros, and other societal development projects with 158 million euros last year. In 2023, the Saastamoinen Foundation distributed 6.25 million euros in grants for science, art, and social projects.
An independent study indicates that foundations provide stability and alternatives for both scientists and artists. They also significantly fund ordinary people’s hobbies and bring vitality to all parts of Finland. For many fields, such as creative industries, foundation support is crucial.
The field that received the most support from foundations in 2023 was medical sciences. Foundations funded research with 90 million euros, accounting for one-third of research expenses in universities for this field. Foundations are among the largest funders of medical research. Saastamoinen Foundation, for example, funds epilepsy research through its partnership with the University of Eastern Finland.
Support from foundations is crucial for the creative industry and the share of foundation support for art and culture has grown significantly year by year. Saastamoinen Foundation supports art because it enables new creations, brings people together, and fosters innovations that help us address the challenges of our time. Additionally, Saastamoinen Foundation maintains its own art collection, which is displayed in changing exhibitions at EMMA – the Espoo Museum of Modern Art. The foundation also supports research, education, and residencies in the Academy of Fine Arts of the University of the Arts Helsinki.
Saastamoinen Foundation supports social activities aimed at young people. Examples of supported initiatives include the popular Yrityskylä learning module, the Gutsy Go peace project, and RARE – a new era media that produces journalism by young people for young people.
The report was published on October 1, 2024, in celebration of the Europan Day of Foundations and Donors. This day is for everyone to celebrate the work of foundations across Europe. Foundations that work for the common good are important supporters of science, art, and civil society.
Read more about the report on the Association of Finnish Foundations website here. The article is available in Finnish and English.
