Fondazione Cassa di Risparmio di Modena is one among the 88 Italian bank foundations. These are private and independent non-profit organisations set up in the early 1990s after a reorganisation process resulting from the implementation of the Amato-Carli Act for the rationalisation and privatisation of Italian banks.
Fondazione Cassa di Risparmio di Modena started its activities on August 1st, 1991, after a radical reorganisation which saw Cassa di Risparmio di Modena and Banca del Monte di Bologna confer their banking licenses to Carimonte Banca S.p.A.
The merger of Credito Romagnolo and Carimonte Banca S.p.A led to the creation of Rolo Banca 1473, which later became part of UniCredito Italiano, now UniCredit Group.
Since 1993 the Fondazione has been headquartered at Palazzo Montecuccoli degli Erri, a palace built in the second half of the 18th century, in the very heart of Modena.
The Foundation carries out non-profit activities in the following areas:
1. Arts, cultural activities and heritage
2. Scientific and technological research
3. Activities of relevant social value
These activities are mainly aimed at promoting growth and welfare in the Modena area.
The Foundation operates according to criteria of publicity and transparency and follows the principle of subsidiarity through both direct and indirect, tangible and intangible support to initiatives promoted by associations and institutions. Furthermore, it is involved in regional, national and international initiatives carried out in partnership with other foundations and institutions.