Origins

Our origins

Our Foundation was formed in December 1991 as part of the rationalization and privatization of the Italian banking system under the Amato-Carli Act as a result of which the philanthropic activities previously carried out by savings banks were entrusted to newly formed foundations.

A time-honored tradition

Although Fondazione Cariplo was officially established in 1991, its roots go far back in time. In fact, it represents the historical continuation of Commissione Centrale di Beneficenza, the philanthropic entity founded in Milan in December 1816, which from the very beginning worked to promote growth of the local economy, culture and civil society and operated under the principles of self-organization and subsidiarity.

In 1816, after defeating Napoleon, Austria had gained vast Italian territories, including Lombardy. In the face of terrible poverty from devastating Napoleonic Wars, the Austrian administration commissioned a group of capable, honest Milanese aristocrats to create and manage a philanthropic organization that would help vulnerable population groups and back economic activity. That philanthropic organization was Commissione Centrale di Beneficenza.

Complete separation

Fondazione Cariplo completed the process of separation from the bank (Cariplo Spa) in January 1998. Owing to the proceeds from the consolidation process that involved Cariplo Spa and led to the formation of the national banking champion BancaIntesa, our Foundation became one of the world’s top ten foundations by assets and, later, after BancaIntesa merged with San Paolo IMI, a major shareholder in the Intesa SanPaolo group, one of Europe’s leading banking groups.

The context

Lombardy and its capital city Milan have long been driving forces of growth and innovation and may be rightfully looked upon as pilot areas and an ideal environment to pioneer solutions to problems.
Lombardy is one of Europe’s powerhouses, one of the richest EU regions, and the Italian region with the largest density of population, businesses and wealth. With its some 9 million inhabitants, it accounts for 15.6% of Italy’s overall population and one fifth of our country’s economy.

Legal status

In its judgement 300 of 2003, Italy’s Constitutional Court clarified, reinforced and confirmed the legal status of Italian banking foundations as private entities, affirming they are “entities that organize social freedoms”, thus clearly positioning them in-between public institutions and the community of citizens.