Born by the will of an individual or several members of a family
According to Assifero estimates, family foundations are the most common type of foundation at the Italian level, accounting for about 65% of the membership
Family foundations are organisations established by the will of one or more members of a family, whether still living or in memory of a family member. Financial and non-financial resources, necessary for the establishment of the foundation and its operation, come from the assets of the individual or family.
Typically, the family foundation is a reflection of a family’s values, which are intended to be passed on from generation to generation.
The Board of Directors consists of one or more family members and often embraces multiple generations of the family lineage. A family representative may also have operational roles (such as Director, Secretary General, and others).
In the context of family foundations, Assifero identifies a specific category peculiar to the Italian context: entrepreneurial family foundations. These are all those organisations founded by individuals with an entrepreneurial present or past who, despite contributing with their own assets to the foundation, leverage resources and intersect with the related small/medium enterprise.
