WHEN CAN I APPLY FOR A SUBSIDY

The application period for organizational subsidies is open each year during spring, around February-March. The application period is open at minimum for two weeks. If the required documents are not delivered to the foundation according to the application instructions by the end of the application period, the application will not be processed. Funding will not be granted retroactively.

WHAT HAPPENS AFTER RECEIVING THE GRANT?

All applicants who have received subsidies must provide KY Foundation with a written report on the use of the given subsidies by the end of year or two months after the com- pletion of the project in question to the address toiminta-avustukset@ky.fi. The form or the length of the report are not relevant. Please be concise on the report and clarify the use of the grant received. Also remember to mention significant changes between the action plan and actually organized activities. If you have received a grant for a study trip, please add a description of the trip (especially if the trip didn’t happen after all). According to Finnish laws on Foundations, all foundations must follow the use of their grants and that is why the report is demanded. In addition, the Foundation always tries to improve the scope and effectiveness of its grants and subsidies, thus the reports are used to develop the Foundations grant portfolio.

CAN I UPDATE THE INFORMATION IN THE APPLICATION?

Yes you can. If there is a need to update or complement the application after it has already been submitted, the new documents can be sent to toiminta-avustukset@ky.fi. However, this must be done before the application deadline. When sending documents via email, please make sure that each document contains the name of your organization.

If you are having problems with submitting your application, please contact toiminta-avustukset@ky.fi.

WHAT APPENDICES ARE NEEDED FOR THE APPLICATION?

In addition to filling the application form, the associations and student groups are required to add following documents to their application: Funding for yearly operations:

• Budget for the current year (as detailed as possible)

• Plan of action for the current year

• Financial statements for the previous year

• Annual report for the previous year

• Current and valid rules of the organization

• Official notice letter of the Finnish patent and registration office (PRH; nimenkirjoittajien muutosilmoitus)

• Report on the use of the grant (if the applicant has been granted funding previously)

• Even if you sent the report on the use of the grant by the end of last year, please send it again with the new application.

• When funding is applied by a non-registered association or student group: 1) budget for the project or activity the grant is applied for (if not already included in the budget for the ongoing year) and 2) Informal project description (if not already included in the current operational plan)

HOW SPECIFIC SHOULD THE REQUIRED APPENDICES BE?

The budget needs to specify all alleged incomes (eg. ticket sales, badge sales, corporate co-operation and other subsidies) and costs (eg rent, marketing, food and refreshment). Specify the incomes and costs for every activity or event if possible. Different groups have diverse income and cost structures so the former incomes and costs are only examples.

The plan of action for the present year has to be included to the application. It should describe the plans for the present year in a detailed manner (for e.g. upcoming events with details such as theme and activities) and the overall objectives of activities and operations. The plan of action should also include estimate of all the participants in the events (or activities) of the group/project.

WHAT ARE THE POSSIBLE CAUSES FOR REJECTING APPLICATIONS?

Obstacles for granting the subsidy include for example the following:

• Application is missing required appendices

• Applicant has not used previously granted subsidies for the purpose they were granted to

• The purpose of the applying organization is in a contradiction with the purpose of the KY Foundation

• Organization is registered to a foreign country

• Application has been submitted after the application deadline

• The activity or event has been included in the application already on the Spring (Supplementary funding)

CAN ORGANIZATIONS WITH ALUMNI OR NON-BUSINESS STUDENTS APPLY FOR THE SUBSIDY?

Yes, they can. Subsidies can be granted to associations that promote the social, professional, intellectual, as well as study and student life-related aims within the Aalto School of Business in addition to supporting the traditions of economics students in Helsinki. Although, the number of business student members has an effect on the amount of subsidy

CAN THE SUBSIDY BE PAID TO A PRIVATE ACCOUNT?

No, subsidies will be paid only to association’s own account. Non-registered groups will have to give detailed description of the payment so that they can prove that the funding has been used as intended.