The Telecom Italia Foundation and its targets

The Telecom Italia Foundation is a business foundation primarily dedicated to funding, with a management fund tied to the profitability of the Telecom Italia Group, consisting of 0.5 per thousand of the consolidated EBITDA for the previous year. In 2010, it disbursed funds of 5 million 664 thousand euros.

The Foundation's activity plan is established every year and approved by the Board of Directors, which relies on the support of the Scientific Guidance Committee consisting of experts from the various areas of intervention.

In order to guarantee maximum transparency in the decision-making processes within the Foundation, a programme of stakeholder engagement was launched in 2009, with the support of authoritative experts from outside the Foundation in the process of analysing and defining possible initiatives and projects in the field of historic and artistic heritage. This involvement has become an important tool with which to gain a better understanding of the dynamics and opportunities for supporting this heritage, in accordance with the Foundation's mission, and resulted in an area of interest being identified for the tender entitled I beni culturali invisibili: una risorsa italiana da valorizzare [Invisible cultural heritage: an Italian resource to be promoted], published in October 2010.

The Foundation’s projects are monitored on the basis of the specific characteristics and objectives envisaged. The monitoring system is a requirement built into the Foundation’s tenders and represents one of the prerequisites for admission of the projects, in addition to being an assessment parameter.