Chapter VI: Rules on the Association's assets and on the financial statements

Art.23 - Destination of the assets and absence of profit

  1. The Association's assets are used for carrying out the statutory activity for the exclusive pursuit of civic, solidarity and social utility purposes.
  2. It is forbidden the distribution, even indirectly, of profits and operating surpluses, funds and reserves, however denominated, to founders, associates, workers and collaborators, Board members and other members of the corporate bodies, even in the case of withdrawal or any other hypothesis of individual dissolution of the associative relationship.

Art.24 - Economic resources

1.The Association draws the economic resources for the operation and carrying out of its activities from:

  1. membership fees;
  2. public and private contributions;
  3. donations and bequests;
  4. property rents;
  5. fundraising activities;
  6. reimbursements deriving from agreements with public administrations;
  7. income from activities of general interest and from other activities pursuant to Article 6 of the Third Sector Law;
  8. any other admission permitted under the Third Sector Law and other relevant regulations.

Art.25 - Financial statements

  1. The financial year coincides with the calendar year, or from 1 January to 31 December.
  2. At the end of each financial year, the Board must prepare the financial statements, which must be approved by the ordinary Assembly. The latter must be convened within 120 (one hundred and twenty) days of the end of the financial year.
  3. The financial statements must be deposited at the headquarters of the Association in the 8 (eight) days preceding the Assembly convened for its approval and each member, upon written request, can view it.