Rules of the “Wihuri Foundation for International Prizes”
The name of the foundation shall be the “Wihuri Foundation for International Prizes” and its domicile shall be the City of Helsinki.
The purpose of the Foundation shall be to promote and support the cultural and economic development of mankind by international prizes, in particular the “Wihuri Sibelius Prize”.
The activities of the Foundation shall be organised on a charitable basis.
The Foundation’s founder, Antti Wihuri, shall contribute one thousand (1,000) Suomen Tankkilaiva Oy shares, each having a nominal value of ten thousand Finnish marks (FIM 10,000), as the Foundation’s initial capital, which shall remain untouched.
In addition to the initial capital, the Foundation shall have a general purpose fund, to which the founder has donated 200 (two hundred) Suomen Tankkilaiva Oy shares when establishing the Foundation. Prizes shall be distributed out of the general purpose fund, to which shall be transferred that part of the annual net yield which is not added to the initial capital.
The Foundation shall have the right to receive donations, testaments and contributions. Donations, insofar as the Foundation accumulates them, shall be added to the initial capital unless the donor specifies otherwise.
The Foundation’s cash shall be invested profitably and soundly.
Whilst the founder still lives, the initial capital of the Foundation may not, without the consent of the founder, be invested otherwise than it is when the Foundation is established.
The Foundation may acquire for itself and own real estate.
he Foundation shall fulfil its purpose by awarding prizes in recognition of creative work that has excellently promoted and supported the cultural and economic development of mankind and a prize known as the “Wihuri Sibelius Prize” to prominent composers that enjoy international recognition and acknowledgement.
Prizes may be awarded to private individuals or organisations irrespective of nationality, religion, race or language.
The prizes, including the “Wihuri Sibelius Prize”, distributed by the Foundation shall be between six million and nine million Finnish marks (FIM 6,000,000 – FIM 9,000,000), but the size of the prizes can be varied depending on the amount of funds available for distribution. The distribution of prizes shall take place on the day the grants and awards of the Jenny and Antti Wihuri Foundation are distributed, the 9th day of October, but may be left undistributed some years if the Foundation’s Board of Trustees so decides. However, no less than one international prize must be awarded at least every three (3) years.
The prizes distributed by the Foundation, including the “Wihuri Sibelius Prize”, may, if the Foundation’s Board of Trustees deems appropriate, be distributed as two, or at the most, three simultaneous prizes such that their total amount is equivalent to that of the prizes determined above.
The annual net yield from the Foundation’s assets, after at least one tenth (1/10) and at most two fifths (2/5) has been retained for addition to the initial capital, shall be transferred to the general purpose fund for distribution as prizes at the discretion of the Foundation’s Board of Trustees and taking into account the provisions in the following article as to the such prizes under these rules.
Once the Foundation’s initial capital has doubled, it shall remain at the discretion of the Board of Trustees whether to increase the initial capital and whether a maximum of one tenth (1/10) of the net yield on the Foundation’s assets can be used for that purpose.
If there are more assets in the general purpose fund than required for the distribution of the two (2) prizes referred to in this article, assets exceeding the amount stated in the Foundation’s general purpose fund may be transferred to the general purpose fund of the Jenny and Antti Wihuri Foundation for use in accordance with the rules thereof.
For the distribution of prizes, the Foundation’s Board of Trustees must request nominations from representatives it deems fit in the field of Finnish science, art and economics as to who shall receive the prizes in the following manner:
For the “Wihuri Sibelius Prize”, the Foundation’s Board of Trustees shall set up a Committee of Experts to which, at its discretion, the Board shall invite five (5) members, three (3) of which shall be chosen either from professors holding a position at the Sibelius Academy or from music teachers at the University of Helsinki and two (2) from the members of the board (johtokunta) of the Society of Finnish Composers or that of the Union of Finnish Composers (Säveltäjäin liitto). Should these experts decide, by majority decision, the Committee of Experts may be further supplemented by two (2) foreign experts, who must be professors holding a position in a foreign academy of music or a similar teaching position in the field of music in some other university. The term of office of the Committee of Experts, which shall elect a chairperson from among themselves, shall last for three (3) years at a time and its expenses and members’ fees, which shall be determined by the Foundations Board of Trustees, shall be paid by the Foundation.
The Committee of Experts, may, if it deems fit, request foreign academies of music to submit a nomination or nominations to receive the prizes. These nominations must be sent to the Board of Trustees and it is desirable to invite nominations from at least all academies of music in the Nordic countries.
The Committee of Experts shall, during those years a “Wihuri Sibelius Prize” is awarded, by the 1st day of August, submit a justified proposal to the Foundation’s Board of Trustees as to the beneficiaries of the “Wihuri Sibelius Prize” distributed the same year, putting the names of three (3) candidates forward in random order and without giving any recommendations. The Foundation’s Board of Directors shall, at its discretion, decide whether it deems the Sibelius Prize is to be awarded at all, which of the three candidates is to receive the prize or to decide whether the prize is to be shared between the three candidates as provided in §3.
If the Foundation’s Board of Trustees decides to distribute prizes other than the “Wihuri Sibelius Prize”, a similar nomination procedure shall be observed for each prizewinner. In such cases, a Committee of Experts shall be set up so that the Foundation’s Board of Trustees, at its discretion, invites as professorial members a professor from each of the University of Helsinki, Helsinki University of Technology and Helsinki School of Economics and two (2) members from the board of prestigious scientific societies or organisations deemed fit by the other Finnish members the Committee. The Committee of Experts may also be supplemented by two (2) foreign experts in compliance with the same principles as stated for the Committee of Experts for the “Wihuri Sibelius Prize”.
All Finnish and Nordic universities are entitled to make nominations to the Foundation’s Board of Directors for winners of these prizes. The Foundation’s Board of Trustees shall forward nominations received, and possibly its own nominations, to the Committee of Experts.
Any application made on someone’s own behalf shall not be considered. When distributing prizes for the first time, the Foundation’s Board of Trustees may award prizes without appointing a Committee of Experts and requesting nominations.
If someone refuses to accept a prize awarded them, or for one reason or another fails to collect and acknowledge his or her prize in the order determined by the Foundation’s Board of Directors before the 1st day of October in the following year, his or her right to such a prize shall lapse and the prize shall be added to the Foundation’s general purpose fund.
The records of the Foundation’s Board of Trustees shall not contain entries concerning opinions expressed in considering the distribution of prizes nor the voting occurring in deciding the matter. Neither shall these matters be mentioned otherwise.
The governing bodies of the Foundation shall be its Board of Trustees and the Financial Committee. The Board of Trustees and the Financial Committee of the Jenny and Antti Wihuri Foundation shall serve as the governing bodies of the Wihuri Foundation for International Prizes.
The Foundation’s Board of Trustees, which represents the Foundation and manages those of its activities that are not the responsibility of the Financial Committee, shall consist of eight (8) members, whose term of office shall last for four (4) years at a time. The first Board of Trustees shall comprise the Foundation’s founder Antti Wihuri and Mrs Rakel Wihuri, and Commercial Counsellor S.A. Harima, Counsellor of Mining John Grundström, Managing Director Aulis Kauppinen, Professor V.A. Koskenniemi, Counsellor of Mining Eero Mäkinen and Bank Manager Tyko Reinikka.
The Foundation’s founder, Antti Wihuri, shall remain a member of the Board of Trustees for as long as he lives.
Members of the Board of Trustees are unpaid, although any member of the Board living in another locality shall receive compensation for travel costs in accordance with the provisions of the top tier of the travel compensation rule valid at any given time.
The Board of Trustees shall meet:
- on the 21st day of March for the Annual General Meeting, which will consider the following items of business:
a) presentation of the reports of the Financial Committee and the auditors,
b) adoption of the annual report and accounts and granting the discharge of liability to the Financial Committee and agent and others liable to render accounts,
c) decision on the use of the net yield from the previous year, taking into account the provisions of §3 and
d) decision on the number and size of prizes to be distributed in the autumn meeting, in which fields and how the prizes are to be distributed;
- on the 9th day of October for the autumn meeting, which will, i.a., consider the following items of business:
a) election of the composition of the Board of Trustees at the start of the following year,
b) determination of fees for the chairman of the Board of Trustees serving as the chairman of the Financial Committee, for the two members of the Board of Trustees appointed to the Financial Committee and the fees for the auditors, for which the first three mentioned may received at most double the highest meeting fee established for committee members by the Council of State,
c) appointment of at least two auditors, and their deputies, taking into account the fact that at least one auditor and his deputy shall be duly authorised by the Central Chamber of Commerce,
d) decision on the budget for the following year,
e) execution of the distribution of prizes and the consideration of any questions related thereto.
The Board of Trustees shall convene at the invitation of the chairman, or if he is prevented from doing so, by the deputy chairman and shall be quorate if at least four (4) members are present in addition to the chairman or deputy chairman. In the event of any dissent in decision-making, voting shall be by simple majority vote. In the event of even voting, the opinion of the chairman shall prevail.
The Financial Committee shall comprise the chairman of the Board of Trustees, two (2) members of the Board of Trustees elected from among themselves for a year at a time and the Foundation’s agent. The Financial Committee shall be quorate when three (3) members are present.
The business of the Financial Committee includes:
- making proposals and plans to manage and invest the Foundation’s assets and to carry out the decisions of the Board of Trustees in respect thereof,
- hiring and dismissing the Foundation’s agent and other employees required and to determine their fees,
- supervising and ensuring that the Foundation’s employees do their job and that the Foundation’s property is diligently managed,
- preparing and, in good time, submitting the budget for the following year to the Board of Trustees,
- preparing a proposal for the Foundation’s report of activities, submitting the accounts to the auditors and presenting the accounts, the auditor’s report and their own statement to the Annual General Meeting,
- overseeing the proper use of the grants awarded by the Foundation and,
- submitting a copy of the accounts, auditor’s report and report of activities to the National Board of Patents and Registration of Finland.
The chairman of the Board of Trustees shall preside over the handling of business at meetings of the Board of Trustees and Financial Committee and shall deal with those tasks for which he is responsible by law and under these rules.
The deputy chairman shall assume the chairman’s responsibilities when the latter is prevented from doing so.
The Foundation’s agent shall be responsible for the everyday running of the Foundation in accordance with the instructions issued by the Board of Trustees and the Financial Committee.
The chairman of the Board of Trustees and the agent shall sign the name of the Foundation jointly, as shall those persons the Board of Trustees duly authorises to sign the name of the Foundation.
As long as Antti Wihuri, the founder of the Foundation, serves as chairman of the Board of Trustees, he shall be entitled to sign the name of the Foundation severally.
The Foundation’s accounts shall be closed at the end of each calendar year and submitted to the auditors by no later than one (1) month prior to the Annual General Meeting. The auditors shall submit their report to Financial Committee one (1) week prior to the Annual General Meeting.
These rules may be amended only if at least six (6) members of the Board of Trustees second such amendments in two (2) consecutive Board meetings, one of which shall be the Annual General Meeting, at an interval of at least one (1) month.
However, the rules may not be amended against the wishes of the Foundation’s founder whilst he is still alive.
However, neither the name of the Foundation nor the purpose thereof as referred to in §1 shall be amended.
Any proposal to amend the rules shall be submitted to the National Board of Patents and Registration of Finland for ratification.
The Ministry of Justice confirmed these rules on 27 March 1953. The National Board of Patents and Registration of Finland confirmed the amended wording of §10, §11 and §15 on 12 June 1996.