Annual Report 2023 – a year of renewal for the Deaconess Foundation


In 2023, the activities of the Deaconess Foundation were influenced by the launch of wellbeing services counties, staff availability, the adjustment demands on health and social services, rising inequality in society and the prevailing security situation. During the past year, we completed many major transformation projects and also responded rapidly to changes in society.

Two people sit next to each other.


On 1 November 2023, the Deaconess Foundation took a big step forward by merging the Group’s health and social welfare services into a single company, Rinnekodit. The aim of the reorganisation was to better meet the challenges of the sector and to provide comprehensive services to meet the needs of the wellbeing services counties.

“The Deaconess Foundation needs to renew itself in line with the current social situation and its demands, so that we can attend to the well-being of vulnerable people and those in need of special support. We have strengthened and streamlined our activities throughout the Group. We have also improved the transparency of our work. The legal distinction between the charitable and business activities of the Deaconess Foundation is now evident,” says the foundation’s CEO Olli Holmström.

The Group already employs 3 400 professionals nationwide, from Helsinki in the south to Rovaniemi in the far north. Despite major changes and challenges in the operating environment, work well-being remained at a good level, staff retention increased and staff turnover halved during 2023. Positive developments were also reflected in good levels of client and stakeholder satisfaction.

“I’m very proud of the work we have done together with professionalism and heart. What distinguishes the Deaconess Foundation from many other organisations is that it carries out both non-profit work and business activities, the benefits of which are returned to society. Last year, we used €5,5 million of our own money on people in vulnerable situations. People and bold work for human dignity are at the core of everything we do. This joins together the Group’s different activities and also involves our partners,” says Holmström.

All profits go to helping vulnerable people

The activities of the Deaconess Foundation are organised around the foundation’s non-profit activities, health social welfare business activity and the shareholding companies providing education and training. Together, they make up the non-profit foundation Group, whose entire profit is used in working with vulnerable people.

The foundation’s non-profit work is carried out in the Diaconic and social responsibility sector. Its mission is to be there the most vulnerable people when need and feelings of shame are greatest and a sense of personal dignity falters. Clients included young people, undocumented people and Roma from Eastern Europe. Non-profit activities and services were provided through external project funding, donations and self-financed non-profit activities. In 2023, there were 107 projects in 12 localities. In addition to Finland, work was carried out in 13 countries. Project grants amounted to €8,1 million and the foundation’s own self-financing contribution was €6.9 million.

Rinnekodit, a 100% owned subsidiary of the foundation, is responsible for the health and social welfare business activity. As Finland’s largest social enterprise in the health and social services sector, it provided services for older people, people with intellectual disabilities, people with different forms of disability, people coping with substance abuse problems and homelessness, children and young people, and to other people with special needs. The aim of the work with clients was to ensure that they are heard and have a say in their own service content.

There were Deaconess Foundation offices in 14 wellbeing services counties and 24 localities, with clients from almost all wellbeing services counties using the foundation’s services. In 2023, external revenues amounted to €215million and the operating result amounted to €9.4 million.

In education and training, the Deaconess Foundation is an active owner of the Diakonia College of Finland and Diaconia University of Applied Sciences.

Read more about the Board's Annual report 2023 (pdf in Finnish)

Sustainability across the organisation

The Group-wide corporate sustainability programme contributed to the realisation of the UN Sustainable Development Goals (SDGs) in five areas: building social trust, having a thriving and competent workforce, client participation and empowerment, a community free from discrimination, and environmental sustainability.

“Sustainability is part of the Deaconess Institute’s strategy, and during the past year we did a lot of development work on sustainability management, measurement and reporting.  For example, we organised joint sustainability training for senior management and developed reporting to meet the requirements of the EU Sustainability Directive . We also carried out a materiality analysis of sustainability issues for the first time. We are committed to advancing our sustainability objectives, and work continues with all our staff,” says Holmström.


The Group’s key figures for 2023

  • •The Group’s income from ordinary activities in 2023 was €258 million (€233 million in 2022).
  • The Group’s surplus for the financial year was €5,9 million (€4.6 million in 2022).
  • The income from ordinary activities had a deficit of €-5,1 million (€0.2 million in 2022).
  • The market value of the Group’s investment securities at the end of 2023 was about €210 million (about €194 million in 2022). The market value of the Group’s real estate and forestry assets is about €150 million.
  • Investments €9,2 (11.5 M€ in 2022)
  • The Group’s equity ratio at the end of 2023 was 81% (82% in 2022)
  • Employee well-being 4.1/5
  • Client satisfaction 4/5


Further information:

Olli Holmström, CEO,, tel. +358 50 483 6313
Jukka Rautavalta, Director of Finance,, tel. +358 40 753 2166
Laura Niemi, Director of Communications and Sustainability,, tel. +358 50 373 8602


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