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  Purposes & Activities

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  Per Jacobsson Biography

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The Per Jacobsson Foundation was organized in the United States of America as a corporation under the District of Columbia Non-Profit Corporation Act which provides for the creation of non-profit organizations of a charitable, scientific, literary or educational nature. The Foundation is exempt from Federal income tax. Copies of the Articles of Incorporation of the Foundation are available for examination. The Foundation's capital stems from contributions made by the Bank for International Settlements, together with the Central Banks represented on its Board, and the International Monetary Fund, when the Foundation was established. In addition, many private persons and institutions made individual contributions, both large and small. The capital is at present about $500,000 and the income is devoted entirely to supporting the activities of the Foundation.

The Foundation has an unsalaried Board of Directors, currently chaired by Raghuram Rajan.

Officers of the Foundation, unsalaried, are chosen by the Directors. The International Monetary Fund makes available legal and administrative services, and office space.

The Foundation issues periodical reports on its activities, including full financial statements. Its accounts are audited by an independent auditor.

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