AN INCREASINGLY SUSTAINABLE GROWTH

In line with its mission, FAI has been committed for years to ensuring the protection of Italy's historical, artistic and landscape heritage, defining ambitious activities pursued with the awareness that the environment, people's safety and social inclusion are common goods.

The year 2023 marks the year in which the Foundation, in continuity with the approach adopted in previous years for the drafting of the Annual Report first, and the Social Report later, has decided to embark on a path of measuring the results achieved through the use of performance indicators that are as universal and comparable as possible.

For this reason, the Social Report is drawn up with reference to the Sustainability Reporting Standards published in 2016 (and updated in 2021) by the Global Reporting Initiative (GRI), and has chosen to enhance the assessment of social impact by integrating into the document its contribution to the achievement of the UN Sustainable Development Goals (SDG's).

Furthermore, following the materiality principle of the GRI Standards, the Foundation defined its first list of material ESG issues, identifying 21 environmental, social and governance issues that emerged as relevant and in line with its activities and that could or are likely to influence the decisions of its stakeholders.

In terms of performance, 2023 confirms the significant results achieved in the previous year. The constant review of internal processes, new management systems integrated with CRM, on-line and on-site ticketing systems, together with further professional development, have fostered an improvement in management efficiency, guaranteeing the optimisation of expenditure incurred for the increasingly important activity of protecting Italy's historical, artistic and landscape heritage.

During the course of the year, the tendency of the Estates towards self-financing was consolidated, and the economic balance ensures that conservation and restoration work can be carried out and will be financially covered in the years to come.

The properties open to the public were visited by 1,121,620 people (+8% vs. 2022) and the number of active members reached 300,247 (+12% vs. 2022) with an increase in economic value of 10% (EUR 7,643,668 vs. EUR 6,952,349 last year). Very positive figures, which confirm the Foundation's growth.

People who believe in our mission donated some €32,830,464, or 69% of total annual income, while companies that help the Foundation contributed €7,622,539 (+8% vs 2022), or 16% of total funds raised. In 2023, fundraising from public bodies, bank foundations, private foundations and associations, representing 12% of total income, shows a decrease compared to the previous year with €5,642,173 (-31% vs 2022) largely driven by the exceptional NRRP (European Union) funds allocation that occurred in 2022 and was not present in 2023. Apart from this exception, the funds allocated by public bodies and associations increased, doubling compared to 2021 and slightly decreasing (-4%) compared to 2022 when evaluated net of the NRRP funds. All the results achieved in 2023 confirm that the work done to date is appreciated by those who believe in our cause and puts us in front of a prospect of important growth and an increasingly demanding challenge to achieve our mission.

Davide Usai
DIRECTOR GENERAL