The Postcode Foundation was established in 2003 by Novamedia Sweden, which owns and operates the Swedish Postcode Lottery. As a beneficiary of the Swedish Postcode Lottery, the Postcode Foundation annually collects a portion of the lottery’s surplus. In March 2017, the Postcode Foundation received 200 million Swedish crowns.
Unlike most other beneficiaries, the Postcode Foundation is not the final recipient of the funds, but provides support for various types of projects in the areas of people, nature and environment, culture and sport. Since 2007, the Postcode Foundation has awarded over one billion Swedish crowns to over 300 projects. Cultural and sports projects were previously supported by the The Postcode Lotteries Culture and Sports Foundation PostkodLotteriets Kulturstiftelse. Since March 2017, all areas of work are supported by The Postcode Foundation.
Project results and impacts are of great importance. The variation of projects creates a dynamic collection of multi-level actions, resulting in positive changes. Although organizations can only be supported for a limited period of time, the hope is that projects will have long-term effects. Organizations are encouraged at an early stage to make a plan for how initiatives will continue after the end of the project. It is valuable if projects include education for their work that can strengthen and continue dissemination efforts.
It is important for the Postcode Foundation to work closely with organizations receiving project support. The Postcode Foundation works in more ways to support project organizations in addition to financial support. Through active dialogue, the Postcode Foundation can assist to provide knowledge, experience, and networks that can strengthen projects. The Postcode Foundation also works actively to visualize projects and show the impact of efforts. Each project is assigned a project leader from the Postcode Foundation who maintains close contact with the organization throughout the project period. In addition to regular meetings and correspondence, the Postcode Foundation requests written reports according to the agreed plan. These reports document activities, costs, deviations, and a project forecast. It is also based on these reports that project funds are paid out.