FUNDACIÓN HISPÁNICA IN NUMBERS
Fundación Hispánica Sources of funding
The primary funding source for the Fundación Hispánica was Banco Popular Español, which served as its channel for social action from 1970 to 1981 and from 2008 until its dissolution in 2017. These contributions originated in 1957 when board members renounced their statutory economic rights in favor of social action. This renunciation represented approximately 5% of the bank’s annual profits. Although the amount was not the same yearly, it was a recurring feature throughout the bank’s history.
In addition, Luis Valls himself donated part of his salary to the Foundation and was its major promoter.
Today, without Luis Valls and Banco Popular, the Foundation’s resources come primarily from three sources: the income from its assets (dividends and interest); donations, legacies, and bequests, sometimes earmarked for specific purposes; and repayments from beneficiaries who, as agreed, progressively reimburse the loans received.
It is worth noting that although Fundación Hispánica awards non-repayable aid, its main activity is “soft” financing for viable projects capable of repaying the loan. As Luis Valls used to say, this loaned money does not leave the assets, as it always (or almost always) returns.
