Education. social and special grants
1.8
Shipping and seafarers interests
4.0
Social work
44.6
Culture
15.4
Lauritzen relatives
0.5
Grants total:
66.3
Wite-downs on former grants
-1.6
Total
64.7
Share of result in subsidiary
28.7
Financial items, net
22.4
Administration costs etc., net
-23.0
Profit for the year
28.1
Properties
39,6
Investments in subsidiaries
8,441.8
Receivables
3.1
Securities
409.4
Cash
82.2
Total assets
8,976.1
Equity
8,849.6
Approved not yet paid grants
124.4
Other debt
2.1
Total Equity & Liabilities
8,976.1
As a commercial foundation our task can be divided into two: 1) maintaining and running our subsidiaries. 2) granting financial support to humanitarian and social projects. Thus we are not like the traditional humanitarian foundation only focusing on philanthropy. Our assets are, as depicted in the chart above, primarily bound up in stocks. The cash flow from investments determines the amount of which we distribute grants from.
Lauritzen Fonden Holding ApS (94%)
Securities and cash funds (5%)
Property and other assets (1%)