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.
Association subsidies are meant for funding of planned events and activities that will be executed under the present year. They can also be granted for large or repetitive projects.
An excess (i.e. own risk) is required by the applying association. Diverse fundraising is an element of Good quality operations and activities. The financial situation of the association will be considered when evaluating the application.
The application period for 2020 association subsidies was open from 17.2. until 29.3.2020.
Project funding is aimed at student groups, associations and individuals with a project. It is primarily meant for small scale projects – subsidies for large scale or repetitive project should be applied in the spring 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. It is also meant for registered associations for surprising needs and purchases, although KY Foundation encourages the associations to plan their year well in advance and apply for funding in the application period for yearly operations.
The application period for project funding is open continuously.
The subsidies are for registered 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.
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.
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.
The following factors:
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.
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.
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 completion of the project in question to the address firstname.lastname@example.org.
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 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.
Yes you can. If there is a need to update or complement the application after it has already submitted, the new documents can be sent to to email@example.com. 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 firstname.lastname@example.org.
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:
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.
Funding applied by a non-registered association or student group:
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.
Obstacles for granting the subsidy include for example the following:
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, he number of business student members has an effect on the amount of subsidy.
No, subsidies will be paid only to associations own account. 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.
Project funding can be applied by student groups, associations and individuals with a project. The project can be for example a new event, or an idea that enhances learning – basically anything that benefits the Aalto University’s Business students.
Also registered associations can apply for project funding 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).
Significant equipment acquisitions (such as instruments or sports equipment) are not supported by project funding. Projects that are neither organized by Aalto University business students nor targeted to Aalto University business students are also not supported.
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. The whole process from receiving the application to the board’s decision takes approximately 1-2 months.
Report about the use of the grant must be delivered two months after the project has ended at the latest to email@example.com. The provided grant is allocated to be used only in the project it has been applied for. If the project is not actualized, KY Foundation has the right to demand the grant to be returned.
From a registered association which did not apply for a yearly subsidy during spring:
The application period for project funding is open around the year.