In a small country like Denmark, with only five million inhabitants, there are as many as 14,000 foundations. However, at first glance, foundations in Denmark are usually quite anonymous entities. With few exceptions they do not seek to publicize their activities. It is not unusual for foundations with large assets not to publish an annual report. This lack of openness is reflected in how little research has been carried out in the field. Foundations are under-researched and we lack insights into the way foundations act and function (Lynge Andersen 2002). In a way this also reflects the lack of interest that society, including the press and the politicians, has shown in foundations.