Statues of the Linnaeus Academy Research Foundation

The foundation’s name and company shall be Linnaeus Academy’s Research Foundation.

The purpose of the foundation is to promote scientific research and education conducted at Linnaeus University. The foundation’s purpose shall primarily be fulfilled through grants for research and education or other activities that benefit Linnaeus University. Funds may also be allocated to promote the application of research and education results in practical implementation.

The foundation’s assets consist of a capital amount of 100,000 SEK, the return on this amount, as well as any funds that may subsequently be transferred to the foundation from the founder and others.

The foundation shall be managed and represented by a board consisting of five or seven regular members with up to seven alternates. Two or three regular members shall be appointed in consultation with Linnaeus University.

Linnaeus Academy appoints all members. The board elects a chairperson from among its members. Board members are appointed for a term of three years and may be re-elected. The board has the authority to appoint a new member to replace a departing member.

The board may decide that the ongoing management, or parts thereof, shall be handled by another person suitable for the task. The board annually establishes guidelines for how funds for research and education shall be allocated.

The board is quorate when more than half of its members are present. A decision by the board shall be the position supported by more than half of the members present, or, in the event of a tie, the position supported by the chairperson.

The board shall meet at least twice per calendar year at the call of the chairperson. The chairperson shall also convene the board if requested by a member.

The foundation’s signature is held, in addition to the board, by the person or persons appointed by the board for this purpose.

The board decides on compensation for its members.

The foundation’s accounts shall be maintained in accordance with the Accounting Act (1999:1078).

The foundation’s fiscal year shall be the calendar year.

Each year, no later than May 31, the foundation shall prepare an annual report for the previous financial year in accordance with the provisions of the Annual Accounts Act (1995:1554). The activity report shall indicate how the foundation’s purpose has been promoted during the financial year.

The foundation’s accounts, annual report, and board’s management shall be audited by an auditor.

Changes to these statutes – with the exception of the purpose provisions in § 2 – may be decided by the foundation’s board without the approval of the Swedish Agency for Economic and Regional Growth (Kammarkollegiet).