In 2014, the equity of foundations of banking origin grew for the first time since 2011, to 41,243 billion from the 40,854 in 2013 (+1%). Total proceeds rose to 2,271 billion, 52,6% more than the 2013 figure, which stood at 1,488 billion. This was announced today by Acri, on the eve of the XXIII National Congress of Foundations of Banking Origin and Casse di Risparmio Spa, organized in Lucca by the association that represents both of these realities. The theme chosen for this edition is "Cohesion, Development, Innovation".
As for the average return on assets, Acre reports that it grew by 1,9 percentage points, reaching 2014% in 5,5. The tax burden was equal to 423,7 million euro. In 2014 the operating surplus was 1,662 billion against 1,099 billion in 2013 (+51,2%). Approved disbursements increased from €884,9 million in 2013 to €911,9 million in 2014 (+3,1%).
Of these resources, 29,9% (272,8 million) went to the Art, activities and cultural heritage sector; 14,4% to voluntary work, philanthropy and charity (131,7 million, of which 45 million intended for voluntary service centres, based on law 266/91); 13,6% (123,6 million) to Social Assistance; 13,3% (120,9 million) to the Education, instruction and training sector; 12,5% (114,4 million) to research and development; 7,6% (68,9 million) to Public Health; 5% (45,4 million) to local development; 2% (18,4 million) to environmental protection and quality; 0,9% (8,1 million) to Sport and recreation; the remaining 0,9% goes to the sectors: Family and connected values; Religion and Spiritual Development; Civil rights, crime prevention and public safety.
Lastly, Acri specifies the progression of taxation on foundations of banking origin:
– year 2011: 100 million euros
– year 2012: 170 million euros
– year 2013: 170 million euros
– year 2014: 423,7 million euros.
This is the result of the combined effect of the increase in charges on returns deriving from financial investments – which rose from 12,5% to 20% in 2012 and then to 26% in July 2014 – and the further burden on financial returns determined by the 2015 Stability Law, which reduced the quota of exemption on dividends received from 95% to 22,26% (quota which remained instead at 95% for private profit entities, whose resources, unlike what happens for Foundations, do not are paid to the community).
