By Chiara Leardini, Gina Rossi, Sara Moggi
financial institution foundations serve an immense objective within the Italian nonprofit area. This publication offers the felony grounds, parts of intervention, and uncomplicated instruments taken with the asset administration and grant-making actions that such companies adopt. a different emphasis makes a speciality of the analyses of the organizational constitution of financial institution foundations and the proper points of governance, quite with reference to the composition, roles, and duties of financial institution origin forums. the final relief within the assets to which they've got entry calls for a brand new process that truly defines long term targets and the required methods to accomplish them. the subject of strategic making plans is for that reason additionally critical to this article, which examines its peculiarities, content material and governing our bodies. The research of a few case stories presents a greater knowing of the style within which foundations interpret strategic making plans and divulges strengths and weaknesses that call for cautious attention.
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Additional info for Board Governance in Bank Foundations: The Italian Experience
Cedam, Padua Leardini C, Rossi G (eds) (2010) Fondazioni bancarie, arte e cultura Ruolo, risultati e prospettive alla luce di un’analisi territoriale. Franco Angeli, Milan Leat D (1999) British foundations: the organization and management of grant-making. In: Anheier HH, Toepler S (eds) Private funds and public purpose. Philanthropic foundations in international perspectives. Plenum, New York, pp 121–140 McCarthy KD (1989) The gospel of wealth: American giving in theory and practice. In: Magat R (ed) Philanthropic giving: studies in varieties and goals.
The function of listening to the needs of the territory therefore is essential (ACRI 2012), and the cooperation with other organizations, especially among bank foundations, is promoted by the Charter of the Foundations as a principle to achieve shared goals. However, bank foundations must make their own choices, free from interferences or external constraints that limit their autonomy. Autonomy is the ability to self-define the elements of the decision-making process, from the identification of the problem, to the selection of alternatives, and ultimately to the choices (Leardini 2012).
36 3 Governance Roles and Responsibilities The Board of Trustees is the head of internal governance system. The law and the statutes confer to it numerous specific tasks and powers through which to implement the function of direction: • It can define the general guidelines of the foundation’s activity through the provision of multiannual planning document. • It can approve and amend the statutes and the internal regulations. • It can appoint and dismiss the members of the administrative and control bodies, determine their compensation, and exercise on them the liability action.
Board Governance in Bank Foundations: The Italian Experience by Chiara Leardini, Gina Rossi, Sara Moggi