LINF’s daily operations are based on a governance structure that ensures that the foundation transparently lives up to its goal of supporting and approving non-product related educational activities aiming at increasing the quality of life of patients within psychiatry and neurology. LINF provides educational grants predominantly supporting continued medical education programmes.
Tasks and Area of Responsibility
LINF is managed by a Board of Trustees with the following responsibilities:
- Agree on the foundation’s strategy.
- Final decisions on the allocation of funds based on management recommendations.
- Ensure the Foundation is managed in a responsible manner and in accordance with applicable laws and statutes.
The Board of Trustees shall meet at least once a year.
The Board of Trustees shall appoint the Executive Management consisting of not less than one and not more than three members.
Composition and Election
The Foundation shall be managed by a Board of Trustees consisting of not fewer than four and not more than ten members. The duties of the members will be laid down in detail in the rules of procedure of the Board of Trustees.
The recommended term for Board members is 2-4 years. LINF has chosen to implement the recommendations so that any member of the Board of Trustees shall be elected for a term of two years and shall be eligible for re-election for another two years. Election or re-election of members aged 75 or older is not possible.
The Board elects members of the Board of Trustees in accordance with its charter. The executive management recommends new members for Board decision and approval.
The Board carries out regular self-evaluations. The evaluation must include, among other things, whether statutory requirements are met and the overall cooperation between management and the board.
The members of the Board of Trustees shall receive reasonable remuneration for their duties as members, and the Foundation shall pay any costs incurred by the members in connection with the exercise of their duties.
In addition, the Board of Trustees shall decide, within the framework of legislation in force from time to time, how to apply the profits of the Foundation, including determining the extent to which the Foundation shall distribute funds.
The share of profits of the Foundation to be distributed may be distributed for the following purposes:
- The Foundation may support medical education and training purposes within psychiatry and neurology in the broadest sense of the words.
- The Foundation may support other purposes determined by the Board of Trustees, but in each calendar year financial support for such other purposes may not exceed 25% of the total funds distributed in the year.
The Board of Trustees is under no obligation to give any of the above purposes higher priority than others.
Statutory Report on Good Foundation Management
The foundation follows the current regulations for 2019, further information Foundation governance.