In 2008, following a decision by the Stockholm City Council, Stockholm Vatten ended its management of the Stockholm Water Foundation (SWF), and the Foundation returned to independent governance. That same year, two new foundations were established based on decisions by the City Council and the Government of Sweden.
On 3 March 2008, the City of Stockholm donated SEK 50 million to establish a new foundation managed by SWF. This foundation was named Stiftelsen till Förmån för Stockholm Water Foundation och Världsvattenveckan i Stockholm (The Foundation for the Benefit of Stockholm Water Foundation and World Water Week in Stockholm), commonly referred to as Förmånsstiftelsen (the Benefit Foundation) and abbreviated as FMS. FMS was created to ensure the long-term financial security of the Stockholm Water Prize, while also supporting the Stockholm Junior Water Prize, World Water Week, and the administration of these events.
On 10 April 2008, the Government of Sweden contributed a grant to establish a second foundation, also managed by SWF, named the Stockholm International Water Institute (SIWI). While the term “SIWI” is often used as an umbrella term for all three foundations and their activities, this specific foundation constitutes the legal entity that represents SIWI.
The purpose of SIWI is to promote interest in research and development concerning water by conducting international research and investigative activities. SIWI works to advance sustainable water use, social development, and poverty reduction. It actively participates in global water processes, engages in advocacy and international information efforts, and organizes World Water Week.
On 5 May 2014, the City Council of Stockholm approved an additional donation of SEK 50 million to FMS to further support its mission.
On 18 November 2024, the SWF Board resolved to apply to Kammarkollegiet for a permutation of SIWI, proposing a transition from SWF oversight to an independent governance under a new SIWI board. Kammarkollegiet approved the application on 7 January 2025, and on 29 January 2025, the SWF Board formally acknowledged the decision. SIWI’s new board held its inaugural meeting on 11 February 2025, marking the beginning of its self-managed operations.