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Tuesday, 29 November, 2022
Home BUSINESSOrgs to get EUR 315m of RAY's revenues
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Sat, 30 Jan, 2016 02:03:20 AM
FTimes Report, Jan 30
File Photo Lehtikuva.
More than 800 non-profit organisations and foundations will this year receive funding, in total EUR 315.3 million, from the revenue of Finland's Slot Machine Association RAY, said an official press release.
 
RAY wants to use the funding to encourage organisations to develop new activities and improve their operations.
 
The Ministry of Social Affairs decided on the distribution of the funding on 28 January which was supported by the Cabinet Finance Committee.
 
The Ministry granted the funding in accordance with a proposal made by the RAY Board of Administration.
 
Finnish war veterans receive EUR 81,5 million of RAY's revenue. Additionally, EUR 30 million will be allocated to compensations for military injuries.
 
The Ministry of Social Affairs and Health granted funding to 824 applicants, as funding for 1596 individual causes.
 
The Ministry left EUR 28.2 million of the RAY revenue undistributed. That amount will be distributed in the next five years.
 
The Ministry grants funding for non-profit organisations that complement the healthcare and social welfare services of the public sector.
 
The aim of the funding is to promote the health and social wellbeing of people, prevent problems and help people with their problems.
 
A total of 1164 organisations and foundations applied for funding. The applications included 2516 different causes, projects and operations. The total amount of funding applied for was EUR 480.6 million.
 
In 2015, the Ministry of Social Affairs and Health granted EUR 309.3 million in funding to 789 organisations, the press release added.
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