About The Álgu Fund
With core funding provided through The Álgu Fund and Arctic Council member state contributions, we will be able to focus more clearly on engaging our communities in the issues that the Arctic Council is addressing and advocating for positions at the Council that aligns with our worldview and interests. Importantly, we will also be better positioned to engage in alliances and partnerships with a wider range of organizations.
Download a two-page overview of the initiative here.
The Álgu Fund will facilitate our increased contributions by the Arctic Council by:
- Expressing and protecting the interest of our communities;
- Facilitating the fulsome inclusion of traditional Indigenous knowledge, as well as understanding and respect for this knowledge, as well as indigenous cultural traditions;
- Actively partnering on Arctic Council project by providing experts and facilitating local involvement, so that projects are more reflective of the communities they are intended to serve;
- Promoting cross-border co-operation amongst Indigenous Peoples and the jurisdictions in which they live; and
- Support local initiatives undertaken by our affiliated Indigenous organizations by drawing attention to them within the framework of the Arctic Council.
It will do so by providing sustained and predictable funding for the following kinds of activities:
- Access to expertise in the specialized research and areas consistent with the Arctic Council projects and areas of interest, as a result of increased operating support;
- Attractiveness of leading experts within our communities and the next generation of leaders to ensure our organization strength and ability to participate in the Arctic Council over the long-term;
- Ability to work collaboratively amongst and between Permanent Participants;
- Coordination amongst our supporting indigenous organizations, so that we are pursuing our interests in a strategic manner at all levels of the jurisdiction;
- Knowledge about our work and the work of the Arctic Council amongst our communities; and
Presence at the Arctic Council overall.
The Álgu Fund has two components. The first is an endowment that will distribute funds annually to the participating Permanent Participants. The second is a Project Support Mechanism that will facilitate our collaboration on specific initiatives.
Funds from the endowment will be distributed annually to participating Permanent Participant organizations on an equal basis. Endowments serve a vital purpose by helping to ensure long-term financial viability for a foundation. Essentially, an endowment fund is created to provide an ongoing source of operating funds, which are drawn from money earned on investments. The principle of an endowment is left intact. The goal that the endowed fund is that it exists in perpetuity.
Project Support Mechanism
While fundraising for the endowment remains the primary goal, The Álgu Fund will also help us to partner with each other and other organizations on Arctic Council projects through a separate Project Fund. Capitalization for the Project Support Mechanism is project-specific.
The Álgu Fund Project Support Mechanism will provide additional capacity and support for us to, in partnership with one another on a bilateral or multi- lateral basis, expand our involvement in specific Arctic Council projects, where there is agreed to be a collective interest. Primarily, the Fund will provide a flexible mechanism for funders to be able to direct contributions towards participating Permanent Participant organizations, but will also assist with grant management and fundraising. Through The Álgu Fund Project Support Mechanism, we will be able to participate more actively and directly in the Task Forces, Expert Groups and Working Groups of the Arctic Council.
GOVERNANCE AND ADMINISTRATION
The Álgu Fund governance and administrative structures are modeled o of industry best practices and were developed in partnership with leading technical experts in Sweden. They consist of a Board of Directors to provide oversight and direction to the organization to be supported by an Executive Director.