The board of the SEM Foundation will make an annual selection regarding the charities to which the foundation would like to donate. The board will take into account that the goal is to offer support to as many charities as possible, but mainly focuses on selecting organization that properly spend the funds received or has proved to have spent the donations received in the past well.
In order to qualify for a donation, the board has established a number of criteria:
- Applications must fit the purpose of the foundation.
- Only project applications from legal entities are financially supported. No donations will be granted to individuals.
- Applicant entities must be established in the region.
- By exception, the board can decide to honor project applications outside the region.
- The amount of the requested donation should be reasonable . The amount of financial support will be determined by the board on a project base.
- Applications for financial support must always be submitted in writing or via social media. Applications should include a profound motivation, a financial business case, and a project plan in which the activities to be performed are described.
- Applications from legal persons must be provided with a copy of the deed of the memorandum of association, a recent financial report and an overview of the governance structure.
- If the project for which an application is submitted is also funded by other entities (funds and / or governments), this should be stated preliminary. Furthermore, the applicant must also indicate why this these fundings from third parties are considered insufficient.
- After finalizing a project, the applicant is obliged to submit a financial report.
- Applications are submitted to the secretary. The secretary will create a dossier of the application and will determine whether it meets the criteria. If needed, missing data will be requested before the application will be proposed to the board of directors.
- Applications can also be approved or rejected outside a board meeting. The secretary will send the request by mail or e-mail to all board members. Respectively, the board will also respond by mail or email.
Would you like to submit a project application, please contact us.