Association and project subsidies

The purpose of the subsidies is to support 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.

The application period for organizational subsidies is open twice per year:

Funding for yearly operations and large projects (February – March)

  • For planned events and activities that will be executed under the present year.
  • Also for large or repetitive projects.
  • In addition to the registered associations, also non registered groups can apply for funding.

Project funding (January – December)

  • Project funding is aimed at student groups, associations and individuals with a project.
  • Project funding is aimed primarily for small scale projects. Hence, subsidies for large or repetitive projects should be applied in the February – March application period. Indicative maximum subsidy for a small project is 2 000 euros.
  • The project can be for example a new event, or an idea that enhances learning -anything that benefits the Aalto University’s Business students.
  • Also for registered associations for surprising needs and purchases. However KY Foundation encourages the associations to plan their year well in advance and apply for funding in the application period for yearly operations (on spring).
  • Please see the detailed schedule under section “Application periods”

Funding will not be granted for activities and events if they have been included in the application on Spring

In the year 2016 the Foundation granted around 90 000 euros in subsidies to different student organizations, in addition to the subsidy granted to the KY Association.

Should you have any questions, please do not hesitate to contact toiminta-avustukset@kyweb.fi

The application period for association subsidies in 2017 will be open between February and March. The application period for project funding is open continuously. The application form for each application type will be listed below, when the application period is open.

Apply for a subsidy or project funding!

ASSOCIATION SUBSIDIES AND PROJECT FUNDING IN 2017

The application period for association subsidies has closed for 2017 !

The application period for project funding is open from January until December

Please apply for a project funding by filling the application form, which can be found below.

The association subsidies and project funding subsidies will be paid only after the subsidies have received the approval of KY Foundation’s executive board, in the board meetings. The board convenes once a month (not including the summer months).

If you have any questions related to the association subsidies please contact the subsidies committee, toiminta-avustukset@kyweb.fi.

The Application announcement for project funding can be found below.

Please wait for a few moments after pressing the “Tallenna/Save” button for the application to be registered. Every succesfull application will result to an automatic confirmation email to the applicant.

FAQ

Application announcement for Association subsidies

The main application period for association subsidies opens on Friday, February 24th, 2017 at 12 a.m.

(Abbreviated, unofficial English version)

The Foundation for Business Students in Aalto University (KY Foundation) announces the application period for association subsidies for 2017 open. The purpose of the subsidies is to support associations that promote the social, professional, intellectual, as well as study and student life related aims within the Aalto University School of Business in addition to supporting the traditions of business students in Helsinki.

Associations registered in Finland can apply for the association subsidies. In addition to the registered associations, student groups whose operations and purpose are aligned with those of KY Foundations can also apply for association subsidies.

In addition to the purpose of the associations, their financial situation and the extent, activity and quality of their operations are also taken into consideration when granting association subsidies. An excess (i.e. own risk) is required by the applying associations. The communications practices of the associations and student groups must be such that they reach the students of the School of Business as widely as possible.

The applications are processed by the association subsidies committee, which consists of members of KY Foundation’s executive and supervisory boards as well as members appointed by KY association. The committee decides on the association subsidies, after which the decisions are transferred to the KY Foundation’s executive board for approval.

Association subsidies are applied for via an electronic form. You can find a link to the form in the foundation’s website (ky-saatio.fi) during the application period. A link to application instructions and answers to frequently asked questions can be found at the same locations. Any other questions should be sent to toiminta-avustukset@kyweb.fi.

The application form, along with its required appendices is to be completed by 4 p.m. on March 31st, 2017.

If the subsidy is applied by a non-registered association or student group they are only required to fill in the application form and attach following appendices to the application:
– Budget for the project or activity the grant is applied
– Informal project description

In other cases the following appendices are required for application:
– Budget for the current year
– Operational plan for the current year
– Financial statements for the previous year
– Annual report for the previous year
– Minutes of associations meeting, where the persons entitled to sign for the association were decided
– Current and valid rules of the organization
– Budget for the project or activity the grant is applied for (if not already included in the budget for the ongoing year)
– Informal project description (if not already included in the current operational plan)

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.
All applicants who have received subsidies must also provide KY foundation with a written report on the use of the given subsidies by the end of year 2017 or two months after the completion of the project in question.

In Helsinki, 30th of January, 2017
Foundation for Business Students in Aalto University

General basis for granting subsidies

The purpose of the subsidies is to support 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.

When granting funding for yearly operations the following factors are considered

  • Purpose of the association
  • Financial situation
  • Extent and quality of the operations
  • Activity
  • Communication practises (such that they reach the students of the Aalto School of Business as widely as possible)

An excess (i.e. own risk) is required by the applying association. Diverse fundraising is an element of Good quality operations and activities (for example ticket sales, subsidies from other sources). The financial situation of the association will be considered when evaluating the grant.

Project funding

Project funding is aimed at student groups, associations and individuals with a project. The project can be for example a new event, or an idea that enhances learning -anything that benefits the Aalto University’s Business students.

Also for registered associations for surprising needs and purchases. However KY Foundation encourages the associations to plan their year well in advance and apply for funding in the application period for yearly operations (on spring).

The basis for granting project funding are the same than granting subsidies for yearly operations.

Eligibility of applicant

Associations registered in Finland can apply for the association subsidies. In addition to the registered associations, student groups whose operations and purpose are aligned with those of KY Foundations, can also apply for association subsidies. Individuals can apply for project funding (for example study trip or an individual project).

The fact if the association is registered also to AYY’s association register is not relevant when considering subsidies from KY Foundation. Subsidies can be granted if the purpose is aligned with KY Foundation.

Application periods

The application period for organizational subsidies is open twice per year:

Funding for yearly operations:

  • Around February – March
  • For planned events and activities that will be executed under the present year
  • In addition to the registered associations, also non registered groups can apply for funding

Project funding, January – December:

  • The project can be for example a new event, or an idea that enhances learning -anything that benefits the Aalto University’s Business students. For student groups, associations and individuals.
  • Also for registered associations for surprising needs and purchases. However KY Foundation encourages the associations to plan their year well in advance and apply for funding in the application period for yearly operations (on spring).

After an application is received the subsidies committee will go through it and deliver a proposal regarding the subsidy amount to the board of KY Foundation. The board of the foundation will then decide on the subsidy amounts based on the proposal.

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.

The applications are processed by the association subsidies committee, which consists of members of KY Foundation’s executive and supervisory boards as well as members appointed by KY association. The committee decides on the association subsidies, after which the decisions are transferred to the KY Foundation’s executive board for approval.

Required appendices

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
  • Minutes of associations meeting, where the persons entitled to sign for the association were decided
  • Current and valid rules of the organization
  • Report on the use of the grant (if the applicant has been granted funding previously)

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

If the subsidy is applied by a non-registered association or student group they are only required to fill in the application form and attach following appendices to the application:

  • Budget for the project or activity the grant is applied for (if not already included in the budget for the ongoing year)
  • Informal project description (if not already included in the current operational plan)

Project funding:

From everyone:

  • Comprehensive description of the project or the activity the subsidy is applied for. Introduce the organizing group/applicant also.
  • Detailed budget of the activity/project

Provided that the applicant is a registered association which did not apply KY Foundation’s subsidy for yearly operations on Spring:

  • Budget for the current year (as detailed as possible)
  • Operational plan for the current year
  • Financial statements for the previous year
  • Annual report for the previous year
  • The latest amendment notice of the National Board of Patents and Registration of Finland (NBPR) for registered associations.

KY foundation reserves the right to demand detailed documents to support the decisiong-making.

Updating information in the application

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

Written report on the use of the grant

All applicants who have received subsidies must also provide KY foundation with a written report on the use of the given subsidies by the end of year in question or two months after the completion of the project in question to the address toiminta-avustukset@kyweb.fi.

The form or the lenght 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 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. One other reason for the written report is that the Foundation always tries to improve the scope and effectiveness of its grants and subsidies and the reports are used to develop the Foundations grant portfolio.

The specificity of the required appendices

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.

Budget for a project needs to be as detailed and specified as possible.

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.

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)

Organizations and events with alumni or non-business students

Subsidies can be granted to organizations with alumnus or non-business student members.  However, the purpose of the subsidies is to support 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. Thus, the number of business student members has an effect on the amount of subsidy.

Payments to private persons’ account

Subsidies will be paid only to associations own account, personal accounts are not accepted. Non registered groups will have to give detailed description about the payment so that they can prove that the funding has been used as intended.