Realdania is a private association in Denmark which supports projects in architecture and planning. It was established in 2000 following the sale of Realkredit Danmark to Danske Bank, when a fund of approximately 20 billion kroner (EUR 2.7 billion) was put aside for "philanthropic" purposes. Realkredit Danmark was owned and controlled by its members (mortgage lenders), and this set-up was kept in Realdania. Realdania is often erroneously called a private charitable foundation, but Realdania's legal structure is that of an association operating as a business and not a foundation. Only owners of real estate in Denmark can become members of Realdania and participate in electing members of the board. Realdania has several subsidiaries. Realdania's closed structure has provoked criticism, and the association's funds has been called "stray billions" since they are controlled by a small network of people. More information...
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