The Hollvina Foundation of the Vestfjörður Health Center was established around the turn of the year 2022–23. The fund replaces several older funds that have expired.
The goal of the fund is to promote and strengthen the activities that take place at or in connection with the Vestfjörður Health Institute and that directly or indirectly improve the health and life of the residents of the region. It must be done by raising and yielding money, among other things for the purchase of equipment, by drawing attention to and encouraging the strengthening of activities at the public level, by supporting the education and lifelong learning of staff and residents, by collaborating with other charities and other such means which the board considers to be in the best interest of the health institution or the health of the population of the district.
The board disposes of the funds of the fund, but if donors have specific goals or goals for their gifts, every effort is made to accommodate those wishes.
Free donations are appreciated.
The temporary board of the fund is appointed by the executive board of the Vestfjörður Health Foundation under the direction of the CEO.
Volunteering or challenging people to take a seat on the board is welcome and appreciated.
The name of the fund is the Vestfjörður Health Foundation's Hollvina Foundation, abbreviated HHVest. The fund is based at the hospital in Torfnes on Ísafjörður. The fund operates according to law no. 19/1988 and does not engage in commercial activities.
The goal of the fund is to promote and strengthen the activities that take place at or in connection with the Vestfjörður Health Institute and that directly or indirectly improve the health and life of the residents of the region.
It must be done by raising and yielding money, among other things for the purchase of equipment, by drawing attention to and encouraging the strengthening of activities at the public level, by supporting the education and lifelong learning of staff and residents, by collaborating with other charities and other such means which the board considers to be in the best interest of the health institution or the health of the population of the district.
The board is authorized to keep a register of loyalists who pay a regular fee to the fund, for example an annual fee. Sponsors can be both individuals and companies. Payment of a fee does not confer any special rights unless specifically decided by the board.
The fund's income consists of loyalist fees, voluntary donations, dividends, legacies, surnames and other income. The funds of the fund shall be invested in a secure manner with profitability as a guiding principle.
Financial contributions can be assigned to certain activities of the health institution. Examples of this are the purchase of certain equipment, the activities of a certain department or establishment, and support for staff education. The board must respect the will of those who have made their gifts or donations conditional. A register of contingent funds must be kept and an account of them in the annual accounts. The board is authorized to cancel the conditioning of funds under ISK 200,000. based on the price level of 2022 and spend those funds according to the fund's general goals.
Unconditional financial contributions are disposed of by the fund's board in accordance with their objectives according to Article 2.
The fund's initial contribution is money that has been collected in the run-up to its foundation, as well as money dedicated to the nursing home Eyri á Ísafjörður, a total of ISK 4,134,189. Its trustee, and thus the fund's founder, is the Vestfjörður Health Foundation, id. 650914-0740.
The fund is responsible for its obligations with all its assets and other valuables it may acquire later.
The fund's accounting year is the calendar year and is the first accounting period from the foundation of the non-profit organization until the end of the next year. The board shall select one or more auditors to audit the accounts for each operating year. Auditors may not be elected from among the board members.
The Vestfjörður Health Institute is in charge of the trust for the fund, and the CEO and CFO must have power of attorney for the fund's accounts, as well as the treasurer on the board.
The fund's board of directors shall be appointed by five members for two years at a time. The outgoing board at the end of the election period elects a new board or appoints new representatives at the same time if the board members leave the board. The Vestfjörður Health Foundation appoints two board members who, unless the organization's executive board decides otherwise, will be the director and medical director.
The first board is made up of the managers of the health institute. Three of them must vacate their seats as soon as it is possible to get people from outside the organization to serve on the board, even if the two-year term of office according to Paragraph 1 is not expired.
A simple majority shall prevail in the selection of board members. The board itself divides the work. The board manages all the affairs of the fund and acts externally on its behalf. The board must ensure that its organization and operations are always in good shape. The signatures of the majority of the board bind the fund. His board can authorize the fund.
Board meetings are legal if the majority of the board attends the meeting. However, important decisions must not be taken without all board members discussing the issue, if at all possible. A minutes book must be kept about what happens at board meetings. Meetings can be held with teleconferencing equipment.
The chairman of the board calls board meetings. Each board member can demand that a board meeting be held. The board is authorized to adopt rules of procedure that specify the performance of its duties in more detail.
In order to change this charter, merge the fund with another fund or close it down, the approval of all directors is required. This shall be submitted in writing to the office of the commissioner in the North West. In the event of the fund's closure, its net assets shall be devoted to the goals stated in Article 2.
Confirmation of the sheriff of the North West should be sought on this charter.
Approved at the Ísafjörður meeting on November 29, 2022.
fh the Vestfjörður Health Foundation
Gylfi Ólafsson CEO
This charter is hereby confirmed in accordance with the Act on funds and organizations according to the confirmed charter, no. 19/1988.
Updated 11. July 2023 (GÓ)