The House of Nobility is the affiliated trustee of most of the 331 foundations that enable the distribution of scholarships and financial assistance to family members. As an affiliated trustee, the House of Nobility’s executive board serves as the foundations’ boards of directors, with full responsibility for investing assets and fulfilling the purposes of each foundation. Oversight of this management is exercised by the County Administrative Board of Stockholm.
Among the foundations, there are two groups that differ from the others. One is the five so-called domain foundations, whose property mainly consists of agricultural and forestry assets. The second group consists of about twenty foundations whose proceeds from the funds managed by the House of Nobility are paid to each foundation’s existing family association, which then decides on the use of fund proceeds in accordance with the statutes of each foundation and each association.
The foundations are managed by the Hercules Investment Fund. A common misconception is that this capital belongs to the House of Nobility, but this is not the case. The money belongs to the foundations and may only be used in accordance with the provisions of each foundation. The wishes of each founder, as expressed in the foundation’s statutes, determine who is eligible for scholarships and financial assistance from the foundation.
The purpose of most foundations is to provide financial assistance to those in need or scholarships to students, often university students.