INVESTMENT IN PROJECTS 2020
in millions of euros
Social investment in own projects and financing to other institutions
146.4
Educational area
6.2
Social area
13.1
Health care area
127.1
Structural costs
0.1
Total
146.6
Investment per area 0% 25% 50% 75% 100%
Educational area
Social area
Health care area
Educational

The Foundation's most important initiative in the field of education is the Scholarship Programme, which gives Spanish secondary school students the opportunity to spend an academic year in schools in the United States and Canada, living with local families.

Social

The Foundation works with public administrations and third sector organisations to strengthen social welfare infrastructures and services. The main programme underway will make it possible to open seven Comprehensive Care Centres for the Elderly in Galicia. Their construction, outfitting and donation to the public network will result in the creation of 900 new high-quality residential spaces.

Health care

Since 2015, the Foundation has been working with the national public health system to modernise the technological equipment used to detect cancer and treat it with radiotherapy, which has resulted in the incorporation of 450 new units in public hospitals throughout Spain.

In October 2021, the Amancio Ortega Foundation signed an Agreement with the Spanish government and several autonomous communities to incorporate proton radiotherapy equipment in the public health system.

SOCIAL INVESTMENT EXECUTED AND COMMITTED
in millions of euros
Executed
2016-2020
Commited
2021-2025
Social investment in own projects and financing to other institutions 366.2 498.4
Educational area 52.7 47.0
Social area 76.6 96.4
Health care area 236.9 355.0
Structural costs 0.9 1.1
Total 367.1 499.5

The social investment committed figure for the period 2021-2025 includes the donation arranged with the Spanish government for the implementation of proton therapy in the Spanish public health system

Social investment per area 0 25% 50% 75% 100%
Educational area (2016-2020)
Educational area (2021-2025)
Social area (2016-2020)
Social area (2021-2025)
Health care area(2016-2020)
Health care area(2021-2025)
INCOME OF THE FOUNDATION
in millions of euros
2020
2016-2020
Founder contributions 146.6 372.3
Financial revenues 0.0 0.5
Type of income 0 25% 50% 75% 100%
Founder contributions (2020)
Financial revenues (2020)
Founder contributions (2016-2020)
Financial revenues (2016-2020)
FINANCIAL INSTRUMENTS
INFORMATION ABOUT THE NATURE
AND THE LEVEL OF RISK

Dated June 12th, 2012 the Foundation’s Board of Trustees passed the amendment of the Foundation’s Financial Investment Code of Conduct, in force since June 30th, 2004. Such code governs the investment criteria and the maximum investment limits allowed, as well as the types of products and currencies allowed in such investments.

The Foundation’s financial risk management is centralized in one member of the Board of Trustees who is responsible for the Foundation’s financial investments. Such member is appointed for a three-year period, and among his duties is to supervise and select the investments as well as to observe the proper compliance with the Code of Conduct.

Generally, the Foundation maintains its cash flow and liquid assets equivalent, as well as its long-term and short-term financial investments in high credit rating financial institutions.

The Code of Conduct sets limits regarding credit risk rating, limiting investments to those with issuers belonging to O.E.C.D. countries and with a credit risk rating never lower than a a BBB- or Baa3, except for those issued by the Spanish State, which can be hired in any case.

In order to guarantee liquidity and to meet all the payment commitments derived from its activity, the Foundation keeps at all times a liquidity ratio of an amount equivalent to 0.5% of the total of all financial investments.

The Code of Conduct determines that all the financial products hired by the Foundation must be denominated in euros.

TYPES OF ASSETS
AND INCOME EARNED

The income earned originated from financial instruments belonging to the Foundation, among which the fixed-term deposits particularly stand out, generate less than 10% of the income.

Relative weight based on type of financial asset

Exercise
2020
Exercise
2019
CASH FLOW
FIXED-TERM DEPOSITS
FIXED INCOME
BASIS OF PRESENTATION

The methodology used by the Amancio Ortega Foundation to present the information about its activities guarantees that the data presented is truthful and contains information which is updated and complete. Such methodology is based on the following basic principles:

  • Accessible and visual content.
  • Updated and complete information.
  • Content presented mindfully due to its relevance.
  • Truthful information.

Such information is prepared in compliance with the financial information legal framework applicable to the Amancio Ortega Foundation, which is established in:

  • The Commercial Code and other corporate legislation.
  • The Spanish National Chart of Account and, in particular, the Rules for the Adaptation of the Spanish National Chart of Account to Non-profit Institutions and the Activity Plan Model of these Institutions.
  • Law 12/2006, dated December 1st, on foundations of Galician interest and policy development contained in Decree 14/2009, dated January 21st, in which the regulation of Galician interest is passed, as well as, in certain provisions, Law 50/2002, dated December 26th, on Foundations, developed by Royal Decree 1337/2005, dated November 11th, by which the Spanish statewide regulation of Foundations is passed.
  • Any other Spanish Accounting and Tax legislation specifically applicable.