When Carl Jacobsen and his wife founded the New Carlsberg Foundation in 1902, the founders also drew up a deed of gift bestowing their brewery, New Carlsberg, on the Carlsberg Foundation, and entitling the New Carlsberg Foundation to a share in the earnings from the brewery.
In a deed of gift dated 18 June 1907, Carl Jacobsen further bestowed on the New Carlsberg Foundation a basic capital that is tied up, and where the interest yield is dedicated to furthering the purpose of the foundation. This basic capital was further increased by stipulations in brewer Jacobsen’s will and in subsequent changes to the foundation’s charter in 1923, 1940, 1952 and 1962.
In 1970, the Carlsberg Breweries merged with The United Breweries A/S, now Carlsberg A/S, and the charter of the Carlsberg Foundation was altered to entitle the New Carlsberg Foundation to a share in the proceeds from the Carlsberg Foundations stock in Carlsberg A/S.
The New Carlsberg Foundation’s capital consists of the basic capital and a free reserve.
The basic capital is tied up, and the proceeds must be spent according to the stipulations stated in the foundation charter. The funds allocated to the free reserve may be invested in accordance with the guidelines determined by the board of the New Carlsberg Foundation.
The Department of Civil Affairs under the Danish Ministry of Justice carries out annual audits to verify that the funds are spent in accordance with the foundation charter.