Version of 26 May 2006

The Casa di Riposo per Musicisti Fondazione "Giuseppe Verdi" [Giuseppe Verdi Rest Home for Musicians Foundation], created on the personal initiative of Giuseppe Verdi, was established as a non-profit organization by Royal Decree No. 384 on 31/12/1899 con configurazione di IPAB.

It is transformed into a persona giuridica di diritto privato in accordance with the Regional Law 13/02/03, No. 1, contextually with its fusion, by incorporation, with the Fondazione Arrigo Boito [Arrigo Boito Foundation] in the aforementioned persona giuridica.

It is based in Milan and carries out its activities within the territory of the Region of Lombardy.

The Institution’s aim is to host, in the Home created for it in Milan, people of either sex who have worked in the musical field, have reached the age of 65, are Italian citizens, and are needy.
Furthermore, in order to favor the integration of musicians of various generations and to avoid the marginalization of the elderly, when places are available (places reserved in the first place for those musicians who have reached the age of 65) worthy and needy young music students who have reached their majority and are enrolled at the Giuseppe Verdi Conservatory of Music of Milan, the Civic Music School iof Milan, courses and academies promoted by the Fondazione Teatro alla Scala [La Scala Theater Foundation] or other accredited music schools located in Milan may be admitted in accordance with the procedures established in the Regulations.

Students must pay monthly room and board in advance as established from time to time by the Board of Directors.

Hospitality can be extended to foreigners and to non-citizens in cases in which equivalency of citizenship is provided for by laws, conventions, or international agreements.

[Guests’] spouses who are not musicians may also be admitted to the Home.
Spouses are required to pay monthly room and board in advance, the sum to be set periodically by the Board of Directors and to amount to a total reimbursement of expenses.

If the resident who was a practicing musician predeceases his/her spouse, the spouse can choose to remain at the Institution provided that room is available and that s/he not then marry someone who does not have the prerequisites for admission. The same conditions that apply to the admission and residence in the Institute of a spouse also apply to the admission of a widow or widower of someone who was previously a practicing musician, if s/he has reached the age of 65, is an Italian citizen, and is in need.

If space is available, people who receive alimony from a resident may also be admitted to the Institute in keeping with Art. 433 et seq. of the Civil Code or of other laws. 

The Foundation pursues its goals directly or through an association that enjoys personalità giuridica which the Foundation possesses in its entirety.

The term “practicing musicians” refers to composers, singers, instrumentalists, and all those who have dedicated themselves professionally to the art of music in keeping with the Foundation’s regulatory norms.

The number of Guests who may be admitted is established by the Board of Directors in keeping with the Institution’s capacity.

The Foundation furthermore provides assistance, through subsidies and checks:

a) temporarily, to musicians who have not yet reached the age of 65 but who, for proven reasons of health or complete inability to work are unable to maintain themselves;
b) permanently, to those musicians who, for family reasons or for other moral or social reasons cannot make use of the Foundation despite being qualified to do so.

The Foundation’s property consists of the real estate and other assets enumerated in the inventories approved by the organization’s Board of Directors in its decisions Nos. 5/19 and 2/4 of 24/09/2003, with successive variants and addenda.
Property may be increased by:

- purchases, inheritances, and donations of real estate and other assets received by the organization in order to increase its property;
- possessions that have not been utilized for institutional purposes;
- contributions a destinazione vincolata.

The obligation to provide for the preservation and maintenance of the property is, however, a basic tenet.

The Foundation pursues its aims by making use of:

a) earnings from its property;
b) donations, offerings, or acts of generosity, public and private contributions, and every other contribution, distribution, and income given to the Foundation;
c) earnings deriving from activities connected with the institutional ones;
d) contributions owed by individuals or by public institutions for carrying out their institutional activities;
e) sums deriving from the transfer of hereditary property.

The following are the Foundation’s organs:

- the President of the Foundation
- the Board of Directors
- the Auditor

The President is the Foundation’s legal representative and is chosen by the Board of Directors from among the Board members, by majority vote.

The President exercises principal guidance over the Institute’s functioning, signs the acts and correspondence pertaining to the functioning of the organization’s policies, furthers the Board’s decisions either directly or by designating a Board member to take charge of the report, ascertains that the decisions adopted by the Board of Directors and the general regulations have been carried out, and, in emergency situations, makes use of material within the Board’s jurisdiction, referring to it at the following meeting.
Should the President be absent or unable to carry out his duties, they will be carried out by the oldest Board member.

The Board of Directors is made up of nine members. Two of them are chosen by the Mayor of Milan and one each by the President of the Province of Milan, the Council of Professors of the Giuseppe Verdi Conservatory of Milan, the Teatro alla Scala Foundation of Milan, the Friends of Casa Verdi Association of Milan (created by public regulation rep.N.10249/1106, by the notary-lawyer Francesco Paolo Rivera of Milan on 29 June 1979), the Sergio Dragoni ONLUS Foundation of Milan (recognized by the President of the Region of Lombardy’s decree No. 6441 of 16 May 1991), the Rector of the Luigi Bocconi Commercial University of Milan and by the Founder’s direct heir, who has the right to designate him/herself; if there are two or more heirs, the choice is made by majority vote among those who retain the right.

The Board serves a five-year term; members may be re-elected.

In case of the death or resignation of a member before the end of the five-year period, s/he will be replaced by another, to be chosen by whichever authority had chosen the predecessor.
The newly elected member will remain in office only until the end of the five-year period.

The Board of Directors will be convoked periodically and, if necessary, for special sessions, by invitation of the President, to discuss all the matters that are within its jurisdiction, and especially to decide on objectives and programs, indicate relative priorities, issue general directives, and adopt provisions that specific regulations have attributed to the organization’s governing organs.

The Board of Directors must also see to it that the organization’s results correspond to the general directives that have been issued.

In order for decisions to be valid, the presence of the President and at least three members is required for ordinary administrative business, and the presence of the President and at least five members is required for matters regarding changes in the Foundation’s statue or regulations.

Decisions are made by simple majority vote among those present at the meeting and can be read into the minutes to be signed by those present.
In the case of tie votes, the President’s vote becomes binding.

Checking of the Foundation’s economic-financial management is exercised by an accountant registered with the Ministry of Justice, in accordance with D.Lgs. 27/01/1992 n. 88 with subsequent modifications and amendments, or else by an accounting society registered with the Consob, in accordance with Art. 161 of D.L. 24/02/1998 n. 58, with the exception of further checking of private individuals, in keeping with the law.

The accountant is appointed by the Mayor of Milan, remains in office until the final budget of the fourth consecutive year is approved, and may be reappointed.

The accountant receives a fee set by the Board of Directors.

The Secretary-General carries out managing duties as specified in the attachment to the regulations regarding personnel, including participation with an advisory vote at meetings of the Board of Directors.

All acts or contracts that comprise obligations toward third parties on the part of the Foundation must be signed by the Secretary-General, who will make sure that such obligations conform with the general directives that the Board of Directors – also through the President – has undertaken on the matter.
In special cases, the Board may appoint a proxy to represent it, even if that person is not a member.

The Foundation’s fiscal year begins on 1 January and ends on 31 December of each year. The organization must provide a preliminary budget and a final budget every year.

Bank accounts are entrusted to banking institutions of well-reputed solidity and indicated by the Board of Directors.

Any monies not spent are for the exclusive use of the institution.
It is forbidden to distribute any remaining monies or to provide goods or services, even indirectly, to Board members, on more favorable conditions, or to anyone who in any way works for the Foundation or is employed by it or is part of it in any way.

Special administrative or internal regulations will deal with determining how to apply this Statute and how to establish the number of people needed for the organization’s functioning, as well as their respective duties and recompenses, in accordance with applicable laws and rules and with the agreements defined by collective contracting.

For anything not dealt with by the present Statute, the regulations of Book One, Section II, of the Civil Code and of the Regional Law No. 1/2003, with subsequent modifications and amendments, will be applied.