The History of Fondazione Roma
The history of Fondazione Roma dates back to 1539 when, in order to fight usury, Pope Paul III issued an Edict establishing the pawn-broking institution ‘Mount of Piety of Rome’. The mission was perpetuated through a Rescript issued in 1836 by Pope Gregory XVI, in response to an initiative of worthy citizens, which instituted the savings bank called Cassa di Risparmio di Roma that incorporated the Mount of Piety in 1937.
The Fondazione Cassa di Risparmio di Roma was established, inheriting the savings bank’s original social benefit goals, when the bank reform, introduced by Mr Giuliano Amato, was enacted in the early nineteen nineties. In order to emphasise the new identity arising from the separation of the banking business from philanthropic activities, in 2007 the Foundation’s name became Fondazione Roma.
Hence, Fondazione Roma is the last episode in five hundred years of history during which it has been transformed and modernised adapting its projects to the new socio-economic context.
The Chairman’s strategic decision to accomplish stable and structured projects and to concentrate resources in the five traditional and more relevant sectors of Health, Scientific Research, Education, Aid to the Underprivileged and Arts and Culture, favouring innovative approaches and procedures in order to find practical solutions to the true needs of the local community, proves the Foundation’s ability to establish a best practice model, which may be replicated and sustained in other contexts.
The first Foundation of banking origin to have left the sector, as planned by the legislator, Fondazione Roma manages its assets in a prudential manner for the purpose of meeting the objectives of protecting the real value of its capital and income, which enables it to constantly issue grants in support of the local area.