By Chiara Leardini, Gina Rossi, Sara Moggi
financial institution foundations serve a big function within the Italian nonprofit area. This publication provides the felony grounds, parts of intervention, and easy instruments considering the asset administration and grant-making actions that such companies adopt. a unique emphasis makes a speciality of the analyses of the organizational constitution of financial institution foundations and the appropriate facets of governance, relatively with reference to the composition, roles, and tasks of financial institution starting place forums. the final aid within the assets to which they've got entry calls for a brand new technique that essentially defines long term ambitions and the required tactics to accomplish them. the subject of strategic making plans is as a result additionally relevant to this article, which examines its peculiarities, content material and governing our bodies. The research of a few case experiences presents a greater knowing of the way within which foundations interpret strategic making plans and divulges strengths and weaknesses that call for cautious attention.
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Additional resources for Board Governance in Bank Foundations: The Italian Experience
Autonomy underlies the power of an organization to self-determine the set of rules to which it will submit (Wiberg 1998). Considering the intrinsic nature of bank foundations, there is no doubt that there are deep connections among foundations, the territory, and the entities that operate within it. Bank foundations act in the exclusive interest of the local community, often in partnership with other agencies and organizations. 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.
External accountability shows the foundation’s stakeholders how funds have been used. This form of accountability represents a means of communication, as well as a way to be accountable to those who are aligned with but are external to the organization (Cornwall et al. 2000). For this reason, accountability for bank foundations is not just a duty required by law; it also constitutes a central focus of their 44 3 Governance Roles and Responsibilities administration through which they come to know and make known the results of their operations in the field (Braverman 2003).
10 shows the composition of disbursements that go to social assistance subareas of intervention. Within this sector, the main subarea of intervention is represented by social services, garnering 90 % of the total amount paid in the sector. 5 %) in the capacity of home services, host infrastructures, and measures to support families, among other activities (ACRI 2013). 6 % of the total grants in the social assistance sector. 3 % of the total). The commitment of the foundations to the research sector has been reflected in various areas of intervention.