By Chiara Leardini, Gina Rossi, Sara Moggi
financial institution foundations serve a tremendous function within the Italian nonprofit area. This booklet provides the criminal grounds, parts of intervention, and easy instruments concerned with the asset administration and grant-making actions that such companies adopt. a distinct emphasis specializes in the analyses of the organizational constitution of financial institution foundations and the correct points of governance, fairly with reference to the composition, roles, and duties of financial institution starting place forums. the final relief within the assets to which they've got entry calls for a brand new technique that in actual fact defines long term targets and the mandatory strategies to accomplish them. the subject of strategic making plans is for that reason additionally principal to this article, which examines its peculiarities, content material and governing our bodies. The research of a few case reviews presents a greater realizing of the way during which foundations interpret strategic making plans and divulges strengths and weaknesses that call for cautious attention.
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Extra info for Board Governance in Bank Foundations: The Italian Experience
It carries out all activities that are necessary for the pursuit of the same, as well as activities of proposal to the Board of Trustees. Fondazione CR Parma e Busseto – Article 20 1. The Board of Directors has all the powers of ordinary and extraordinary administration of the Foundation, except those expressly reserved for another organ of the Foundation by law or this statute. It exercises a proposal power to the Board of Trustees with regard to matters pertaining to the activities of the Foundation under the programs, priorities, and objectives set by the Board of Trustees, the establishment of instrumental enterprises as well as the definition of the programs of the foundation.
9 % in 2011) and contribute to support organizations that already are operating in the community. 4 Collaboration with Other Entities Bank foundations can operate autonomously or in partnership with other organizations (pooled disbursements). Such partnerships can take on various combinations of local, public, and private actors, which increases the value generated by their action and gives rise to significant synergies. These partnerships combine the interests and funds of different entities and favor the development of articulated and wide-ranging projects.
In particular, the members of the Board of Directors must have appropriate expertise in matters pertaining to the specific areas of intervention in which the foundation operates and to financial sectors and securities. They must also have adequate operational experience in a professional, business, or academic setting or experience in direction and administrative functions in the public or private sector. There must also be a proper coordination with the Board of Trustees to ensure that its guidelines are translated into management operations.