What is a Scholarship?
To summarize you could say that is simply money paid to individuals or organizations to support a certain purpose. Scholarships are often administrated and paid out by foundations but anyone can set up and offer scholarships. It is, for example, common that companies and trade organization have scholarships. A scholarship is tax-exempt if it is open to a wider category of people and is not conditioned in a way that makes the compensation resemble a salary. Most scholarships for study and research are tax-exempt.
A foundation is formed by means of designating assets to be administered as an independent vehicle. In reality this means that the founder/ founders write a statement containing regulations for how the assets are to be used and managed and thereafter pay money to an account opened for the foundation (if the assets are in cash). When this has been done the founders have forever given up the right to dispose of these assets.
A fundraising foundation differs from others in the sense that it does not have a significant capital from the start. The founder instead states that money paid to the foundation after an announcement shall constitute its' capital.
Swedish foundations are registered by County Gouvernment. All foundations which are big enough to be obliged to create and annual report must be registered. Fundraising foundations must always register. In Sweden there are about 15000 registered foundation. In addition to these there are about 5000 non-registered foundations.
The book value of all assets of Swedish Foundations was a few years ago about 270 billion SEK, The market value is much higher.
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