Each fund has a set of operational rules, which the University’s chief financial officer primarily approves. The rules stipulate the fund’s purpose and governing body as well as the latter’s duties. The governing body of the fund is responsible for the use of its assets, and decides on the scholarships and grants to be opened for applications. The University’s chief financial officer appoints the governing bodies for the funds. The governing bodies of field-specific funds usually include professors, researchers, teachers and a student representative in the field as well as the University’s administrative staff. In addition, the governing bodies of independent funds often include the donor or the donor’s representative. Each governing body is responsible for using the assets of the fund in question.
The University of Helsinki Board also serves as the board of the University’s funds. Primarily, the decisions on the establishment of a fund, its rules and the appointment of its governing body are made by the University’s chief financial officer, and in some cases, the rector. University Services staff are responsible for the management of funds and usually serve as secretaries on the governing bodies of endowment funds. The University Services' Community Relations unit is responsible for donor relations, preparing the establishment of new funds, editing the annual report of funds, and organising their annual celebration. Financial Services is responsible for the financial management and investment of donated funds. The University’s Teaching and Learning Services organises the application processes for grants awarded by funds.