Fund solution from BetterBoard

There are approx. 10,000 foundations in Denmark, both commercial and non-profit, which primarily support charitable purposes. Many of these foundations are not distributing; but among those that are, the main tasks are the following – in simplified form:

To manage the foundation’s assets as best as possible
To distribute grants in accordance with the foundation’s purpose
To ensure a board of directors that is independent of the founder

Depending on the type of foundation, how the assets are invested and what the purpose is, the largest task in the vast majority of foundations will be to decide on distributions. The size of the grants or scholarships, the number of recipients, and of course which purpose(s) you wish to support, if the foundation charter provides multiple options.

The foundation’s board of directors is responsible for setting the search criteria, subsequently assessing the applications that may be received, and finally assessing which applications will be accepted in whole or in part.

What is a fund solution?

With a fund solution from BetterBoard, you get a solution that provides an overview of the individual applications and allows you to structure communication around the applications. The solution saves time and ensures that all documents can only be accessed by the person or persons who need to have access to them.

The number of emails that end up on private phones and computers is minimised, as the majority of communication is encrypted and kept internally in the solution.

What can BetterBoard’s fund solution do?

With our fund solution, we cover two tasks: the need for the fund board to structure meeting notices, meeting holdings, minutes, and the statutory reports that must be prepared.

Next, the practical process surrounding applications, assessments of which applicants you want to support, until the selected applicants are notified of full or partial acceptance of the application.

Everything takes place in a closed, encrypted environment, where one or more administrators control access to the information, which in many cases, for example regarding applications for social purposes, can be sensitive.

We have built in a GDPR solution, which ensures that information that needs to be stored remains available in the solution, but also that information that does not need to be stored is deleted as soon as possible.

It is possible to manage the application flow for multiple awards in the same portal. Incoming applications are managed via a link posted on the foundation’s website, or elsewhere where it is possible for applicants to gain access to it. The application process is opened and closed by simply activating the link during the periods when it is possible to submit applications.

Based on an application form, which is customised in each individual case with the desired information, the applications are collected in the solution’s administration panel. Here, the applications can be assessed by one or more board members. This can be done on an ongoing basis, so that the formal decision on allocation can be made in one meeting. How the process works in each fund board is of course individual, we simply support the process in the best way possible.

“

The solution supports both commercial and non-profit foundations – large and small – regardless of whether the funds are distributed for projects, education or other purposes.

“

Stefan Schelde Hansen
Founder of BetterBoard®

Stefan Schelde Hansen er CEO og Founder hos BetterBoard

What does our fund solution include?

Customized application form(s)
Access to forms via a link placed, for example, on a website
Open and close application periods via link
GDPR-compliant solution ensuring deletion of applications that should not be stored, regardless of whether they are approved or not
Sorting options for applications for different purposes
Internal communication directly on the application
Sign via e-signature, including MitID
Register of grantees

Necessary communication with applicants directly from the solution
No installation required
All data is stored and processed in a closed, encrypted environment
Two-factor authentication for login
Works on all devices – mobile, tablet, and PC
Option to create workspaces for committees and/or exchange of documents with, for example, an auditor
Board portal where everything related to meeting invitations, agendas, meeting execution, minutes, etc. is included in one solution
Individual pricing depending on the number of applications and desired features in the solution

BetterBoard’s fund solution is based on our board portal, which even in its smallest version contains all the necessary core functionality to run a board.

In addition to the additional facilities necessary to process applications and award grants and scholarships, you will also receive a complete board portal.

This means that you can not only process applications in the solution: the board associated with the foundation can hold its meetings in the same place where applications are collected. This provides an overview and facilitates internal communication, not only regarding specific applications and awards, but also regarding the board’s work.

The solution includes a minutes solution with the option of pre-approval, the option to sign with an e-signature, including MitID, and a wide range of other facilities that we would be happy to tell you more about.

We know that the level of activity varies greatly across the existing foundations, and we also know that there is a large difference in the size of the grants that can be awarded.

Therefore, we have chosen a business model where the number of applications determines the price, in order to support smaller foundations where automating the processes makes a lot of sense.

The size of the grant portions also plays a role, of course, so in the specific case it will be a combination of the number of applications and the level of the awards that determines the price.

The solution works regardless of whether it is a commercial foundation, a family foundation, or a foundation that distributes project support, or whose funds are perhaps targeted for education.

Get in touch with us, even if you are in the initial phase of setting up a fund, and let’s talk about the need, how we can best solve it, and get a practical demonstration, typically via Teams, of the possibilities in the solution.

What do our users say?

“BetterBoard’s fund solution has given us a comprehensive and user-friendly application flow directly from our own website. The board has one place to find all relevant material, and the high degree of automation has also freed up time and made the work easier for the foundation’s administrator.”

Julie Ormholt Brink

Foundation Secretary, The Funen Newspaper Foundation

FUND SOLUTION

Unlimited number of applications
Easy and intuitive processing of applications
Including a board portal
Secure and encrypted storage of all applications and documents

Get a no-obligation quotation

Do you need a fund solution?

As always, BetterBoard is happy to provide good onboarding, although it is rarely necessary as the system is straightforward to use. Additionally, it requires no integration as it is a 100% cloud-based solution.

We have Danish support if you need it.

Get a call when it suits you

Get a call from BetterBoard and get more information about what our fund solution can do for you.

Call me

Book a no-obligation online meeting

In less than half an hour, we review the fund solution’s primary functionalities and security.

Book an online demo

Get a no-obligation quote on the fund solution

Get a no-obligation quote for a fund solution that matches your fund’s needs.

Get a quotation