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 this amount was not the same every year, it was recurring throughout its history. Furthermore, Luis Valls himself donated part of his salary to this Foundation and was its great promoter.
Today, without Luis Valls and Banco Popular, the Foundation’s resources primarily come 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 return the received aid.
It should be remembered that Fundación Hispánica grants non-refundable aid but, above all, soft financing for viable projects capable of repaying the credit. Therefore, as Luis Valls said, that borrowed money does not leave the asset, since it always (or almost always) returns.
