Education and Project Fund

The fund is called the Education and Project Fund of Ungmennafélag Íslands.

The purpose of the fund is to support the community and sports work of the youth association movement in line with UMFÍ’s policy, including by increasing the education and knowledge of members within the movement about sports, training in organisational matters and community work.

The fund’s board shall consist of at least three people and one deputy. The UMFÍ Board appoints the fund’s board between congresses. The fund board’s term coincides with that of the UMFÍ Board, i.e. two years. The fund board’s task is to allocate money from the fund and monitor the use of grants.

The fund’s board sets more detailed guidelines for allocation.

The fund’s income shall be a set percentage of lottery income according to the regulation on the allocation of lottery income, currently 5%, voluntary contributions from individuals and clubs, its own interest income and other fundraising deemed appropriate at any given time. The fund’s board may seek additional funding from other parties.

Allocations from the fund take place twice a year. Applications shall be sent to the UMFÍ office on a special form. The application deadlines are up to and including 1 May and up to and including 1 November each year. The fund’s board shall allocate from the fund no later than one month after the application deadline.

Before each allocation, applications to the fund shall be advertised by sending an information email to member federations and placing an advertisement on the UMFÍ website and in other public channels. Advertisements for applications shall include a link to the UMFÍ website, which shall provide more information about the fund and an overview of the grant recipients, grant amounts and projects that have received grants from the fund.

The fund’s board reserves the right to obtain more information than is provided on the application form and to seek the opinions of others. The fund’s board assesses each application for approval or rejection. If an application is approved, the fund’s board shall decide the amount of the grant. Applicants can ask the fund’s board for the reasons for its decision on their application.

UMFÍ’s member federations, active member clubs and departments within them are entitled to apply to the fund.

The fund’s board may, on its own initiative, award grants from the fund to projects that are not part of the movement’s annual projects.

The fund does not support the purchase of equipment, tools and gear, meeting costs (including refreshments) or the general operation of clubs. The fund’s board may set out more detailed provisions on this in its guidelines, cf. Article 3.

Everyone who receives a grant from the fund must submit a report to UMFÍ after the project is completed, on the use of the grant, the arrangements, the main content and the results. The report shall be accompanied by copies of invoices for expenses incurred. If a grant has not been claimed 24 months after allocation, it lapses.

The fund’s board shall submit a report to the UMFÍ Board setting out, among other things, the grants awarded and the fund’s finances. The fund’s income statement and balance sheet shall be published annually in the UMFÍ annual report, which is presented at the Federation Congress and the Federation Council Meeting.

The auditing firm that audits UMFÍ’s accounts at any given time shall also be the fund’s auditing firm.

This regulation may only be amended at the UMFÍ Federation Congress, by a simple majority of votes cast.

Approved at the 54th UMFÍ Federation Congress in Stykkishólmur in 2025.