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Photo: Raddum. The fund is an independent legal entity, with the majority of assets in real property and financial assets. Sustainable administration in accordance with church values The aim of Ovf is to create sustainable financial results and deliver the financial outcome and provide homes to the benefit of the Norwegian Church.

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In managing property and securities for the fund, we are committed to taking into account ethical, cultural heritage and environmental considerations. We strive to ensure that the management and operations are in line with lervik dating norway ethical values and also commercially justifiable.

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The total area of the buildings, including garages etc. Leaseholds By the end ofOvf had approximately 6 leaseholds, of which near 4 are let for residential and leisure purposes.

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Agriculture Ovf has a total of farm leases. The 23 farms are primarily kept due to their cultural and historical heritage importance.

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Cultural heritage properties The long history and foundation of the fund has resulted in an extensive portfolio of cultural heritage properties.

Forestry Ovf owns hectar of forests and uncultivated land. Regeneration through growth and replanting of the forest accounted for approximately m3 in Real property and estate development Ovf is working with a substantial portfolio of property development prospects, including a few real estate developments.

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The main purpose of the property development is to regulate the sites before selling them. The business area is organized in its own subsidiary; Clemens Kraft.

Clemens Kraft AS, has partial ownership in 34 operational power plants. Ten power plants will be under construction in with the intention to further increase the portfolio in the years to come.

Clemens Kraft is a leading player in this field in Norway. Grans and contributions are given in various forms, both financial and in terms of the endowment maintaining homes for clergy in the Norwegian Church.

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The Endowment provides services of various kinds which the recipient does not pay market prices or cost absorption prices for. Total disbursements of the Norwegian Church, including the rehabilitation of housing for the clergy, amounted to NOK million incompares to NOK million in InOvf spent a net NOK 51 million on operation and refurbishment of homes for the clergy.

This figure includes operating costs, maintenance costs and upgrading costs, adjusted for rental income.

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Ovf is offering better-than-market loans to church related purposes and has per the end of almost NOK 90 million in outstanding loans. The benefits in kind amounts to NOK 1. In addition to the benefits mentioned above, the Endowment has made various financial contributions for ecclesiastical purposes.

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Inthese aggregated to NOK 48 million. The fall in net financial result was mainly due to extraordinary profit lervik dating norway Operating costs totaled NOK million, at the same level as in the previous year. Allocations