Stichting ITC Foundation

Stichting ITC Foundation

Mission

1. The mission of the Foundation is the promotion of the continuation and development of the ITC Faculty at the University of Twente (hereafter: UT) and its possible legal successors, when and for as long they are at least involved in:
   1. providing scientific education, the conducting and promoting of scientific research, the provision of advice at an international level, and the contribution to the scientific development in the areas of:
      1. the supply of geo-information and earth observation;
      2. the use of geo-information and earth observation for the management and development of natural resources and for land use;
      3. the use of geo-information and earth observation for the analysis, the understanding, and the safeguarding of spatial processes;
      4. the deployment of knowledge in these fields for civil use and to support good governance; and
      5. making the results of its activities useful and subject to the socio-economical development of peoples in general and to developing countries in particular.
2. With respect to achieving its mission, the Foundation will abide by the policy of the UT.

Financial accountability

1. The financial year of the Foundation corresponds with the calendar year.
2. The Executive Board of the Foundation has the obligation to conduct an administration of the equity position of the Foundation and of all its activities and store the ledgers, documents, and other data carriers in such a way that the entitlements and obligations of the Foundation can be reviewed at all times.
3. The balance sheet and statement of income and expenditure of the Foundation shall be prepared and made available for inspection by the Executive Board within six months after the end of the financial year.
4. The Board has the obligation to keep the ledgers, documentation, and other data carriers mentioned in the two previous paragraphs for the duration of seven years.
5. The balance sheet and statement of income and expenditure will be adopted by the Board.

Before these documents are adopted, the Board will have them reviewed by an appointed controller or auditor on the proposal of the UT Executive Board. In the event of the UT Executive Board failing to give such a proposal, at all or in time, then the Board of the Foundation is entitled to appoint an expert professional. The Board shall make the adopted balance sheet and statement of income and expenditure available for inspection to the UT Executive Board and the Dean of the ITC Faculty of the UT. The Board shall adopt the budget for the coming financial year annually and make it available for inspection before the start of the year to the Executive Board and the Dean of the ITC Faculty of the UT.

Main principles of the current policy plan

The mission of the ITC Foundation is established in Article 2 of the Articles of Association.

The manner in which the mission shall be realized is established in Article 3. In short, this article contains the following:

A. Ensuring that the transfer agreement is duly observed and, when necessary, act as a party with a special role with regard to the real estate which was the property of ITC until the end of 2009. This task will end on 1 January 2020 (Article 3, paragraphs a., b., c., d., and e.). 

B. Providing financial and other support for, amongst other things, the installation of academic chairs and the granting of awards to the ITC faculty (Article 3, paragraphs g. and h.). 

C. Giving advice to the UT Executive Board and the Faculty with regard to scientific matters and with regard to the main principles and social issues (Article 3, paragraph f.).

Re. A: 

The Board of the Foundation shall have regular consultation (at least 2x per year) with the Dean and Director of Operations of the ITC Faculty about the progress of the integration within the UT. Should there be developments that warrant any further consultation, the Foundation shall arrange this with the UT Executive Board. During these consultations, special attention shall be given to the developments with respect to the management and use and the abovementioned real estate. In the event of a change of use and/or sale of this real estate, the Foundation will execute its right of consent.

Re. B:

• At the request of the Faculty, the Foundation has set up a scholarship fund for PhD students who have insufficient means to provide for themselves until the date of their doctoral degree defense and ceremony. This scholarship is only available for students from developing countries when they have already worked successfully on their research and when they are expected to successfully complete this research intramurally within two years.
  Further information is available on the ITC Intranet, please click here.
• The Foundation grants an annual award to the best publication by a PhD student.

Re. C:

The Board of the Foundation shall have regular consultation (at least 2x per year) with the Dean and Director of Operations of the ITC Faculty about the developments in scientific and social areas which have bearing on the tasks of the Faculty.