Funding for the Guarantee Foundation

Most of the funding comes from an annual grant provided by the Funding Centre for Social Welfare and Health Organisations (STEA). STEA grants are validated by the Government. The funds come from the profits of the state-owned gambling company Veikkaus.

STEA’s general grant is used to cover administrative costs. The Foundation receives targeted grants for advice services, social financing as well as regional and network training costs.

In order to prevent losses on guarantees, the Foundation has received a grant from the Slot Machine Association since the 1990s. The credit capital for the miniloans was acquired in 2012 from the proceeds of the Common Responsibility Campaign organised by the Evangelical Lutheran Church’s Kotimaanapu (“Charity in Finland”).

We also receive fixed-term funding for individual projects from different sources of funding as follows:

• Life insurance company LähiTapiola’s contingency reserve donation to fund the Guarantee Foundation’s advice services.
• STEA’s project funding for the “Kestävät talouspolut” and “Rahat pelissä” -projects.
• Funding from the reserve of the joint parishes of Turku and Kaarina for the Toivo (“Hope”) project.
• Tradeka Cooperative’s donation to the Palkka haltuun – taloustaitoja työpaikalta (“Salary’s under control – financial skills from the workplace”) project.

More information about the above projects on the development projects page.

The Guarantee Foundation also has the original capital from the proceeds of the Common Responsibility Campaign organised in 1991 by the Evangelical Lutheran Church’s Kotimaanapu (“Charity in Finland”). The money is used to support and promote the independent survival of financially vulnerable people, such as those who have been in institutions, who suffer from an illness or who struggle with financial problems for other reasons.