Fondazione

Fondazione is the Italian term for a foundation, a private, autonomous non-profit legal entity established to pursue specific public-interest objectives. It is created by one or more founders through an act of foundation and a statutes document that define its aims, governance, and the rules for using its assets. In Italian law, a fondazione is a separate legal person, endowed with assets that form an endowment, the income of which funds its activities rather than distributing profits to stakeholders.

Governance typically includes a board of directors and, depending on size and statute, may include a supervisory body or other oversight structures. The founders’ contribution often shapes the initial endowment and the purposes, but the fondazione operates independently from its founders over time.

Endowments and stable funding are central to a fondazione. Assets are generally preserved to sustain long-term activities, with income used to implement programs in line with the statutory purposes. The foundation may pursue activities in culture, science, education, social welfare, health, environment, research, or humanitarian aid, among others.

Foundations are non-profit organizations that differ from associations, which are membership-based, and from public or commercial entities. They may obtain public-benefit status under applicable rules and benefit from tax and regulatory regimes intended to encourage philanthropy. Internationally, the concept of a foundation exists in many civil-law jurisdictions with variations in regime and governance.