Ligula Foundation – Questions and answers
Why is Ligula Hospitality Group setting up a charitable foundation?
Ligula Hospitality Group has for a long period of time supported a number of charitable projects, for example an orphanage in Thailand and the Nordens Ark Zoo in Sweden. As the Group is now growing we want to be able to coordinate the various initiatives that are undertaken and therefore we are setting up the Ligula Foundation. By doing so we believe that we can make more targeted and comprehensive contributions than if we are working in different directions within the Group. In short, we want to increase our ability to help!
What type of purposes will Ligula Foundation support?
The primary focus of Ligula Foundation is to help and support children and animals, but other purposes may also be considered. We can work with both major and minor initiatives, which could for example just be to provide safety reflectors or excursions for school children. It could also be support for preventing game poaching and illegal hunting of animals that are in danger of becoming extinct in a specific location. The Foundation may work together with established charitable organizations, such as for example the Red Cross or Save the Children, depending on where the contributions would provide the greatest benefit at the time. Ligula Foundation is impressed by all great organizations that try to create a better world for vulnerable and disadvantaged people and neither want nor can compete with these.
How do you apply for funds from Ligula Foundation?
Contact us via e-mail email@example.com and we will get back to you as soon as we have reviewed your application. Please be as accurately and detailed as possible, with information about your organization and the purpose of the funds. We will also be transparent with how the funds are awarded and utilized.
Where does the money come from in the Foundation?
As a first step, a one-time payment will be made by the Löffler family of SEK 10 million. Subsequently, SEK 10 for each booking of hotel rooms, during 2017 – 2019, that are made via Ligula Hospitality Group’s website will be allocated to the Foundation.
How much will go to charity?
Of the capital deposited in the Foundation, some will be used for projects and some will be held in trust in order to generate continued growth. At least 75 – 80 percent of the return on capital as well as half of the amount received during a year will be used for one or more charitable projects.
How do I know that the money will get there?
Ligula Foundation will account for its activities in the form of an annual report that will be presented on this website. The report will be available to download from the website. Ligula Foundation wants to and will be fully transparent in terms of reporting completed projects as well as the Foundation’s finances and opportunities for support actions.
How is the administration financed?
Ligula Hospitality Group has undertaken to handle the management of the Foundation during the first three years, 2018 –2020, under a management agreement that has been drawn up with the Foundation. During these three years, Ligula Hospitality Group is responsible for any running expenses through a donation agreement. Then the Foundation itself will take over unless a new arrangement is made. The aim is to minimize the administration and ensure that it does not exceed the requirements made of serious organizations. We will qualify for a so-called 90 account. The Foundation wants to and will be fully transparent in terms of reporting completed projects as well as the Foundation’s finances.
How is the management and the Board of the Foundation made up?
The Board is made up of the Löffler family, persons related to the family as well as representatives of Tastsinn AB / Ligula Hospitality Group AB. The Board consists of a maximum of five people and the daily work is led by Elisabeth Löffler (working deputy chairman) who is responsible for the preparatory work.
How will the decisions be made?
Any external applications and requests will be considered together with the Foundation’s own suggestions at any of the Board’s three – four meetings per year. Then the accrued funds will be handed out to the projects which the Board has decided on. Elisabeth Löffler will also have the opportunity to allocate smaller amounts for running expenses in ongoing projects.
How much money will the Foundation use for charity?
The capital of the Foundation depends on how well the capital at its disposal has been managed as well as how many bookings are made via Ligula Hospitality Group’s websites. The ambition is to eventually be able to hand out at least SEK one million every year.
How is the Foundation’s capital managed?
The capital has been invested in a reputable bank, initially Svenska Handelsbanken. Together with the bank and in accordance with the investment strategy that is determined on a regular basis, the capital is invested in order to create the best current return for the Foundation. Investments may be made in shares, options, bonds and real estate with current returns or just in a credit balance in a bank account with accruing interest.