FOMENTO DE FUNDACIONES, IN NUMBERS
Funding
The history of Fomento de Fundaciones began with the idea of Rafael Termes, founder and first President, to extend the social action initially promoted by Luis Valls in the environment of Banco Popular. This was the seed of the current foundations under the Beatriz Building umbrella. Termes provided the initial endowment at its establishment in 1987, further supplemented by bequest in 2005.
Since then, the assets of the Fomento de Fundaciones have grown through various donations, bequests, and inheritances, including that of Luis Valls himself, who designated this Foundation as its sole heir upon his death.
Current funding sources
The Foundation’s resources primarily come from three sources: returns on its assets (dividends and interests), donations, bequests, and inheritances, sometimes earmarked for specific purposes, and reimbursements from beneficiaries of repayable aid who, as agreed, gradually repay the funds received. It should be noted that the assistance provided by the Fomento de Fundaciones is always through programs which are part of projects, which in turn principally align with the concepts of “repayable aid” and “equipment aid.”