Basic guidelines for application and granting

  1. Study funds, grants, scholarships and similar will be partially financed up to a maximum of 75 % of their cost. The cost will comprise not only of the training/education specific fee, but also all related and necessary expenses. The Foundation shall preferably pay for the training/education specific expenses or costs.
  2. No percentage of financing will apply for other types of benefit which shall be subject to a case-by-case analysis of its characteristics and the applicants’ circumstances.
  3. Each individual benefit granted may not exceed 24.000 € as a whole, unless suitably justified special cases. For advances, loans and contributions the relevant amount shall be calculated based on the difference between the return provided by the action itself and the cost arising from the non-allocation of the relevant funds to other kinds of safe and liquid investment. For such purposes guarantees shall be accounted for at 2% annual rate. This specific benefit is individually limited to 2% of the Foundation assets at the date of its granting. The total amount of funds allocated to such type of benefits must not exceed 50% of the Foundation assets.
  4. No aid or benefit shall be granted whenever the same is deemed to be obtained in full directly from the company where the applicant works or by any other means from public or private institutions to which the applicant has access. Nevertheless, the benefit may be compatible and supplemented, as the case may be, by other funds from the said institutions, provided that the sum obtained does not exceed the total cost of the relevant action.
  5. The benefit and its amount shall be determined taking into account the type of action required, the effort and the economic cost to the applicant, its usefulness in order to improve his/her quality of life, the circumstance, etc., so that the Board of Trustees or its executive body is able to objectively analyze the case and, on the basis of the existing financial availability, assign the benefit as deemed appropriate and fair for every situation. The decisions of the Board of Trustees are discretionary and not subject to appeal.
  6. Fiscal or indirect costs of any other type linked to the benefit, in accordance to each country specific tax regulation, will be solely borne by the applicant; the Foundation assumes no liability for such.

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