Endowments are funds in the form of assets or financial resources managed by non-profit institutions to fund their activities and perpetuate their existence. The principal amount is safeguarded and only the proceeds are spent in order to preserve the principal value. In June 2020, FICA started building its equity fund, which is separate from the main fund of FICA. The creation of the fund was suggested by our International Advisory Board. Three assumptions guide this design: progressivity, ethical investment and transparency.
FICA was not the initiative of a major philanthropist. It generally receives small donations and has been growing organically since it was set up in 2015. This is how FICA's endowment fund works, which starts small and grows over time.
We started with a segregated fund within the FICA bank account, using the existing administrative structure. The target is to reach R$450,000 within three years. From this amount, the fund can start disbursing resources to help cover the institution's administrative costs.
The balance of the fund currently stands at R$ 150,000. Contribute to the sustainability of FICA by donating to the equity fund.
1. Support FICA every month with the amount you want;
2. Write to us saying you would like to join: contato@fundofica.org;
3. We will reply to you with a registration form. You will be able to participate in assemblies and actions of FICA.
For us, it makes no sense to invest in investments in companies that are not sustainable, that violate human rights and that are not in line with what we stand for. We will invest your equity fund in ethical investments, even if this means lower returns.
Currently, part of the fund is invested in the RequaliFICA project, a social impact investment mechanism for the purchase of tenements in old buildings in São Paulo. This enables virtuous economic cycles with the payment of low-income rents.
Each year, FICA discloses the results of the endowment in its financial statements and devotes a section of its annual report to analysing the state of the endowment. From 2021, the accounts of FICA will be audited, ensuring even greater transparency.
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