Compagnia di San Paolo announces €500 million, facility to manage DAFs

 

Alliance magazine

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The Italian foundation of banking origin Fondazione Compagnia di San Paolo intends to allocate €500 million over the next four years tobenefit Northwestern Italy, as part of its 2021-24 strategic plan. The recently released plan also outlines the opening of a facility to manage Donor Advised Funds.

‘We believe that aligning our plans with supra-national and national new development frameworks, such as the United Nations’ 2030 Agenda and the European Union Recovery Facility, is essential to maximise the impact and repercussions of our work,’ said Compagnia di San Paolo’s Secretary-General, Alberto Anfossi.

In 2021, Compagnia di San Paolo plans to allocate €155 million in funding to generate an impact of at least €550 million on the development of a green economy, widespread digital transformation, and social resilience and cohesion according to the European model. The remaining €345 will be spent across 2022-24. For comparison, the Foundation disbursed €168 million to support and develop over 1,000 projects last year.

Another notable part of the Foundation’s strategic plan involves opening a facility to manage Donor Advised Funds as part of 19 items in its toolbox.

‘As part of our strategic plan, we have put forward 19 tools to support and maximise the impact of our funding. This is what we call our toolbox, the whole thing taken from pilot projects we have conducted in recent years,’ said Anfossi. ‘Examples include Organisational Development programmes tailored for grantees, “quasi-recoverable” non-repayable funding, the establishment of philanthropy funds, where the Compagnia has posited itself as an open infrastructure for the management of donations or bequests from private individuals who are interested in becoming professional, innovative, efficient and durable philanthropists.’

To find out more about Fondazione Compagnia di San Paolo’s 2021-24 strategic plan, you can visit the Foundation’s website.


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