Interventions To Acquire Real Estate For The Benefit Of The Foundation
Heritage:
The assets of the Foundation is fully committed to the statutory purposes and is operated in a manner consistent with the nature of the Foundation as a non-profit organization that operates according to principles of transparency and morality.
The assets of the Foundation consists of the securities and real estate assets at the date of approval of the Statute. It also increases the effect of:
- a) of all allocations to reserves;
- b) for donations of any kind received and explicitly designed to increase the assets by the express will of the testator or settlor;
- c) of any net capital gains attributable to shareholders, even if not realized, but subsequent evaluation, relating to participation in the Company conferred banking.
Use of Assets:
The Foundation uses its assets prudently risk and cost, diversifying investments, in order to protect its value and obtain adequate profitability, ensuring the functional connection with their institutional objectives and in particular with the development of the territory . The financial statements will be given specific evidence of lending and its profitability. For information purposes, the Plan Document will set out the Provisional applications under Article 7, paragraph 1, of Legislative Decree no. 153/99. For the management of its assets, the Foundation may assign duties to external intermediaries authorized pursuant to Legislative Decree no. 58/98, as long as there holding the positions of the members of the boards of the Foundation. These assignments should be taken in the interests of the Foundation and in view of the criterion of cost containment. The Foundation may not conduct the business of management of its assets, in which case using internal organizational structures appropriate, separate and independent from those who carry out the institutional activities of the Foundation. Remains included taking controlling stakes in business activities.
Areas of activity:
The ONLUS must operate exclusively in certain business sectors. In particular: social assistance and social services; health care; charities; education; training; sports-amateur; promote the protection and enhancement of the things of artistic and historical interest; protection and enhancement of nature and the environment; promotion of culture and art; protection of civil rights; scientific research of particular social interest.
We distinguish the activity in question into two categories, those in “solidarity immanent” and those in “solidarity is not immanent.”
The first did not direct beneficiaries, the social purpose being immanent to the same institutional purpose (art. 10, paragraph 4, of Legislative Decree no. 460/97).
The latter should instead be targeted subjects in (physical, psychological, economic, social or family, art. 10, paragraph 2, letter a), of disadvantage, the social objective promoted by the Legislative Decree no. 460/97 since then related to the hardship of the people where the business is.
With regard to the identification of beneficiaries, the law provides (art. 10, paragraph 3, of Legislative Decree no. 460/97) that they can not be members, associates, participants, founders, who in other words, work inside the ‘entity, unless such persons are not placed under the specific conditions of distress.
According to the administrative practice, the evaluation of the condition of “disadvantage” is a comprehensive assessment designed to identify categories of subjects in goal uncomfortable situations related to mental and physical disabling particularly in situations of delinquency, deterioration or severe economic hardship family or social exclusion. The Inland Revenue lists, for example: physically and mentally disabled with diseases involving non-temporary impairments, drug addicts, alcoholics, the poor, dependent older people in conditions of economic hardship; abandoned children, orphans and children in situations of maladjustment and deviance; refugees; immigrants have-nots.
It should be considered that, in the identification of areas of activity of the NGO, recently spoke lawmakers extending, with standard authentic interpretation of the definition of charity. In accordance with paragraph 2a art. 10, Legislative Decree no. 460/97 (inserted by art. 30, paragraph 4, of Legislative Decree 29 November 2008, n. 185, converted with amendments by Law January 28, 2009, no. 2) is considered to charitable activities even the grant of free cash disbursements with the use of money from the asset management company or by donations collected specifically for the benefit of non-profit organizations that operate mainly in the areas referred to in that paragraph 1, letter a), for the construction direct social projects.
Dr. Enrique De La Caridad Angulo Borrero
