Board of Directors

The Foundation is led by a self-elective board. A board member elected due to the charter is required to have permanent address in Denmark, be legal, have an unblemished reputation and not have reached the age of 65 before entering the board. A potential board member is nominated by the existing members. They evaluate whether the person has special competences and knowledge regarding the maritime sector, other business expertise and knowledge on social conditions.

The board undergoes an evaluation every second year focusing on their work and results thus aiming to provide the best foundation to assess the Boards competences and continued work conditions.

According to charter Lauritzen Fonden’s Board has to consist of at least 5 and maximum 6 charter elected members plus employee elects. Therefore 3 out of the current 8 members are employee elects. A charter elected board member is not elected for a time specific period, but it is custom that they can only hold their position until they turn 70.

The board are formed and work according to the foundation charter §7. See link at the top of this page for the full foundation charter.

Grant strategy

Lauritzen Fonden’s grant strategy is based on the foundation charter and a vision to support children and youth’s opportunities to become active and contributing members of society in Denmark. Please find a more thorough description of our grant strategy here.

Internal regulations

The work of the Foundation and the board are formulated in a internal regulations paper which is adjusted on an ongoing basis. The Danish Business Authority is the supervising authority for the Foundation.

Lauritzen Fonden follows the recommendations from The Ministry of Business and Growth regarding foundation governance. Read the latest governance report here

Tax practice regarding grants

Lauritzen Fonden reports all grants to SKAT. Grants are generally taxable. Grants for study trips can in certain circumstances be tax-free.

Appreciation grants (i.e. honor awards and recognition of artistic efforts) can be tax-free if they are not applied for and a onetime event. Certain non-profit organizations do not need to pay taxes if they have applied for and received a grant.

CSR

Our objective is to show transparency in all aspects of our business. We aim high and we expect the same dedication of the projects we are involved in. The focus of our charter, the core basis of our work, has always been to create a better world, not only for seafarers and the Lauritzen Group employees, but also for the local environment we are surrounded by and the rest of the world as well.

As a commercial foundation we are especially focused on our corporate responsibilities and through grant distributions to social and humanitarian projects we strive to live up to these commitments. Our subsidiaries J. Lauritzen A/S and DFDS A/S are already working strategically with their CSR – both within their area of business but also in conjunction with us.

Together with J. Lauritzen we supported the making of the report “On Course for a Better World” – a CSR report initiated by the Danish Business Authorities showing how Danish shipping and maritime business supports the UN’s Global Compact principles especially focusing on anti-corruption, piracy and environment. J. Lauritzen also contributed with knowledge and man power to the making of the report. It’s also in collaboration with J. Lauritzen we grant an annual scholarship to a promising and socially engaged student at the Nanyang Technological University in Singapore.

We helped establish a Social Work Fund initiated by DFDS and Dansk Metals Maritime Department (trade union). An establishment that helps keep DFDS employees connected to their workplace and to their job function despite illness or other health obstacles. In addition it was through DFDS the Foundation were introduced to project High:five. DFDS hires young people with a criminal background affiliated with project High:five and gives them a second chance to get back into the job market and rehabilitate into society.

Read more about J. Lauritzen’s corporate responsibility here

Read more about DFDS’ corporate responsibility here

Openness and communication

We encourage an open communication with our surroundings and the projects we’re involved with. We want to create value for our projects through financial support, but also by enhancing the project’s visibility in order to put focus on the cause and the work of the project/organization. By increasing knowledge about the Foundation and our work to the general public we strive to improve the quality of incoming applications.

Chairman of the Board is the Foundation’s official spokesperson and thus the one who comments on matters regarding the board of directors and its work.

Communication regarding the specialized areas of the Foundation are handled by the chairman or the management, either joint or individually. The same goes for matters regarding companies owned by the Foundation and questions regarding philanthropic and social humanitarian work.

The Foundation’s communication officer will refer to either chairman or managing directors.

We follow the official recommendations on foundation governance. Read the latest governance reports below: