The year ended with no new community foundation being incorporated. However, during the year Fondazione Cariplo worked for the future formation of a sixteenth foundation to serve the southern and eastern parts of the Province of Milan, and thus fully cover its constituency save for the municipality of Milan.
In 2007, the 15 community foundations increased their assets by €12,342,133 (up 8%). This was a remarkable achievement considering that no new foundation was set up in the year and that the economic crisis impacted people’s propensity to donate. Excluding the financial resources provided by Fondazione Cariplo, community foundations’ assets increased by €7,844,598, which means a 5% growth rate.
At year end 2007, community foundations reported total assets of €171,569,690, of which nearly €45.5 million gathered locally, up about 20% over the prior year.
In 2007, the foundations received 3,092 donations aggregating to €11,371,449, net of contributions from Fondazione Cariplo, up about 3% over the already exceptional figures posted in 2006. 38% of donations were made by individuals who were the biggest supporters of foundations with €4,359,984 donated. Actually, almost half of that amount came from a large bequest made to the Novara Community Foundation. Excluding individuals, donations were equally distributed and came from private (24%) and public (20%) organizations as well as businesses (17%).
Overall, community foundations recorded inflows of funds amounting to €24,951,890, up by as much as €3,897,838 over €21,054,053 recorded in 2006. €14,560,000 of total inflows were funds contributed by Fondazione Cariplo. The weight of funds contributed by Fondazione Cariplo declined from 64% in 2006 to 57% of total inflows in 2007.
In 2007, the foundations extended grants mainly to projects selected via calls for proposals. This is how 83% of funds were given to projects and 72% of projects were funded. The rest of the projects were supported via sponsorships, micro-grants, and contributions given as indicated by donors. Grants made to landmark and multi-year projects were again very rare.
Most of the projects were in the social and welfare area that attracted 44% of all funds compared to 39% in 2006, followed by heritage conservation with 24%, and arts and culture with 17% of total funds given.