Vincenzo Marinese at the helm of the Venice Foundation

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Vincenzo Marinese, vice-president of Confindustria, was unanimously designated as the new president of the Venice Foundation. He was appointed by the General Council of the organisation, in the session which also saw the approval of the 2023 final budget and the appointment of three administrative and general councillors. They are Anna Saetta, deputy vice-rector of the Iuav University of Venice, on the General Council, and, for the Board of Directors, Agar Brugiavini, professor of Political Economy at Ca’ Foscari, and the former prefect of Venice Carlo Boffi Farsetti ( the latter were already present in the Foundation as general councillors).

In detail, the 2023 financial statement closed with an increase in the Foundation’s net assets of approximately 900 thousand euros, from 364.2 to 365.1 million. The operating surplus amounts to 4.5 million, with an increase of 4.4% compared to the forecasts of the Forecast Planning Document and of 74.6% compared to 2022.

The budget

The disbursements for the territory approved in 2023 exceeded 5.43 million. In particular, 34% went to support the Education, instruction and training sector, 29% that of Art, cultural activities and heritage, 24% other sectors relevant for the social and economic development of the metropolitan area and almost 13% went to scientific and technological research. As regards the delivery methods, 41% of the interventions were carried out directly by the Venice Foundation or through the M9 Foundation, 28% in partnership with other entities, while the method of contributions and donations involved 31% of the interventions.

To benefit from the Foundation’s disbursement activities are entities such as the Teatro La Fenice Foundation, the two Universities, the Teatro Stabile del Veneto – Teatro Nazionale, which received contributions of 700 thousand, 500 thousand and 100 thousand euros respectively. The Culture Call confirmed, supported in 2023 with 260 thousand euros, as well as the disbursement to Community Foundations, to which 140 thousand euros went. Support for welfare and education initiatives has been strengthened in 2023, including 530 thousand euros allocated to the Fund to combat child educational poverty. The initiatives to support training, social, innovation and sustainability also include contributions to the Venice Gardens Foundation Onlus, MIT DesignX Venice, the Venice World Capital of Sustainability Foundation and projects such as #nonsolocompiti and Entrepreneur Non Sei Only, for a total of 175 thousand euros. The Venice Foundation’s disbursement exposure to the M9 Foundation remains at 1.9 million.

As regards the item relating to costs, net of some non-recurring cost items connected to the sale of the Rio Novo property and the change of the organisation’s headquarters, the operating costs amount to approximately 2.79 million euros with a reduction of 3.1% compared to the final balance of the previous year.