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Dear Friends,

It is with great pleasure and a deep sense of responsibility that I write to you for the first time in my capacity as President of Fondazione Milano per la Scala. Assuming the leadership of this distinguished philanthropic foundation is a great honour for me, and I embrace this role with the commitment to uphold our remarkable tradition while also helping to shape new directions for the future.
My sincere thanks go to all our Supporters. Every contribution, large or small, is invaluable and enables us to transform our passion for Teatro alla Scala into tangible projects that benefit the Theatre.
I would also like to extend my heartfelt gratitude to the members of the Albo d'Oro for their generosity and the steadfast commitment with which they support the Foundation, providing essential backing for our initiatives.

Each year, the Foundation's financial statements are independently audited by PricewaterhouseCoopers and reviewed by the Statutory Auditor, Dr My Luigi.

Dear Friends,
This is the last time I am writing to you in my capacity as President of Fondazione Milano per la Scala. With the approval of the financial statements as of 31 December 2024, the Board of Directors' term of office has come to an end, and all corporate positions have consequently expired.
After 19 years as President, I have decided to step down from this role, which has brought me immense satisfaction and given me the opportunity to meet and get to know so many of you. It has been a privilege to share with you countless memorable moments of great music in our beloved Teatro alla Scala.
At its meeting on 18 March, the newly appointed Board of Directors renewed its membership and assigned the new corporate offices, appointing Matteo Mambretti as President and Maite Carpio Bulgari and Margot de Mazzeri as Vice Presidents.

Each year, the financial statements are also audited by PricewaterhouseCoopers, the Foundation's independent external auditor, and reviewed by the Statutory Auditor, Dr My Luigi.

Dear Friends, as you certainly know, in 2023 the Milan Foundation for La Scala amended its Articles of Association and, as of June 13, 2023, is registered with RUNTS and is now a Third Sector Philanthropic Entity. The statutory purpose has remained unchanged and is to promote and foster initiatives aimed, directly or indirectly, at procuring economic or image benefits for La Scala Theater.

This transformation allows our Patrons and Supporters to obtain important tax benefits on the donations and gifts given to Milan for La Scala; however, I would like to stress that membership fees are not deductible.

The year 2023 has been an extremely positive one that has seen us disburse to the Theater, thanks mainly to generous donations from our Board Member and Patron Aline Foriel-Destezet, whom I again thank here with all my affection and gratitude, a contribution approaching 4 million euros...

Dear Friends, 2022 was a very good year that saw us disburse to the Theater, a contribution of over 2.3 million Euros. Below are the main items in the budget: - Revenues of € 2,712,267 - Operating expenses of € 320,442 - Contribution to Teatro alla Scala of € 2,334,445, including € 1,320,000 in support of the stagings of the operas I Capuleti e i Montecchi, La dama di picche, Thais, La Gioconda and Fedora, € 330,000 in support of the ballets Jewels, Afterite-Lore and Onegin, € 406. 445 in support of the Festival of Orchestras and the Concert for Peace, €218,000 to the Accademia Teatro alla Scala, €35,000 to the DAM Project, €15,000 for handouts for the Theater's Cultural Promotion Service, and €10,000 for a scholarship for baritone Pierpaolo Martella in memory of Luciano and Giancarla Berti. As shown in the attached Financial Statements, certified by PricewaterhouseCoopers Spa, FY 2022 closed with a positive balance of €57,380, which the Board decided to allocate to increase the equity reserve....

Dear Friends, 2021 was not a generous year in terms of income having offered all Supporters the opportunity to extend their membership free of charge throughout 2021 or to simply make a contribution for the purpose of offsetting the cessation of activities for much of 2020 due to the pandemic; we were also unable to organize any trips and few events were offered. In-person activities have only restarted since September.
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Dear Friends, 2020 was a very difficult year that found us totally unprepared to deal with an unprecedented health crisis; for most of the year all activities in the presence of our Foundation were suspended resulting in a significant reduction in income from events and travel. Overall, however, income remained fairly in line with that of 2019 since by the end of February, the date when all activities were suspended and the theater closed, the majority of our Supporters had already renewed their membership.
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