The foundation’s charter commits it
- to manage the foundation as the sole beneficiary of Ove Krak’s estate and its accrued assets and whatever may replace these, including direct and indirect investments in real estate and businesses and companies that have business activities related to commerce, industry, services and/or real estate. Thus, there shall be no limitations to the degree of the foundation’s ownership of such businesses and companies.
- to assist and support individuals, institutions or enterprises that – regardless of whether they are domiciled in Denmark or abroad – via their activities, as appraised by the governing board, work towards the benefit of Danish commerce and industry
- to provide support to the widows of doctors who are in financial distress
- to maintain the burial sites of Ove Krak and his spouse in good condition
- to provide support to the relatives of Ove Krak and Mrs Else Krak or to individuals who were close to the above-mentioned while they lived and to previous employees of Kraks Forlag A/S or their widows.
The foundation shall be entitled to exercise its commercial activities via one or more public limited companies or private limited companies.
Allocation of profits and distributions
The foundation’s earnings shall be used by the governing board for various purposes of societal utility, including making distributions that fulfil the foundation’s purpose. Under extraordinary circumstances, however, the governing board may decide that there should be fewer distributions or no distributions in a given year.
You can read Kraks Fond’s articles of association here