Foundations and self-governing institutions

As a foundation, there are many ongoing challenges to consider, including: 

• Ongoing monitoring of interest rate and price developments, as well as changes in accounting and tax conditions 
• Deduction of energy taxes on consumption in the course of an economic activity 
• Use of employee benefits for retention, including which are tax-free and taxable for employees
• Optimisation of financing in business activity, including self-financing, credit institutions, suppliers, employee obligations and public charges 

We can offer our assistance in a wide range of areas, including: 

• Preparation and reporting of the annual report 
• Reporting of grants 
• Tax advice, calculation of taxable income, and reporting thereof 
• Preparation of operational, balance sheet and cash flow budgets 
• Investment and financing advice 
• Advice on improving internal controls and procedures in the fund/business activity 
• Advice on ongoing financial management and reporting, as well as better use of resources 
• Bookkeeping assistance 

Tax advice 

Taxes and duties pose challenges for foundations, including business activity in connection with the calculation of bases, calculations and reporting, as well as choosing the most advantageous solution for the fund within the regulatory framework. It is important to be aware of the following: 

• Determination of the tax optimal level for distributions. 
• Changes in tax matters. 
• The Fund's/Business Activity's reporting obligations to SKAT for employee benefits.

Common to our clients is that they receive grants from public authorities, and must submit an annual report in accordance with the Danish Financial Statements Act, but also project accounts to the grantors in the form of, for example, the EU Commission and the Danish Arts Foundation. Depending on the size of the grant, the accounts may be subject to performance audits. We therefore have extensive experience in preparing and auditing project accounts, as well as advising on compliance with the conditions of the grant rules.  We can offer our assistance in a wide range of areas, including:

• Preparation and reporting of the annual report. 
• Tax advice and calculation of taxable income. 
• Preparation of operational, balance sheet and cash flow budgets. 
• Advice in connection with investment and financing. 
• Advice on improving internal controls and business processes in the company. 
• Advice on ongoing financial management and reporting, as well as better use of resources.
• Bookkeeping assistance. 
• Compliance with grant conditions. 
• Exemption from the obligation to submit tax returns. 
• Project accounting requirements. 
• Optimization and/or outsourcing of finance function. 
• Choice of financial system.

We believe that good cooperation and a positive dialogue are important elements in being able to deliver exactly the solutions that match your organization's needs. This requires not only that we are good at accounting – but also that we can listen and that we have an in-depth knowledge of your organization, challenges, wishes and surroundings.