The foundation has a total of 14 founding members, including companies, organisations and associations.
The objective of the foundation is to support and promote education in accordance with its rules in the Raahe region, and the research and development activities associated with it. In particular, the foundation aims to support and assist thesis work done concerning the real and authentic needs of industry and commerce. The foundation receives donations in order to implement its objectives.
The foundation has the right to receive donations and testaments and to increase its assets in other ways, but not by carrying out business operations. Funds received in this fashion are added to the foundation's disbursal fund, from which scholarships have been awarded to successful to those who graduate as engineers, masters of science in technology and bachelors of business administration.