FAES receives public funds through a process of open presentation called by the Ministry of Culture and the Ministry of Foreign Affairs. These grants are allocated according to objective criteria set by the Government. FAES also applies for grants from other Public Administrations subject to the same conditions.
FAES also receives private contributions, both from individuals and companies, which are made in compliance with the requirements of current legislation, thus guaranteeing transparency. Furthermore, the Foundation also publishes an Annual Audit Report.
All private donations and contributions made to FAES benefit from significant tax allowances as established by the Patronage Act (“Ley de Mecenazgo”): 25% of the amount donated is not subject to income tax in the case of individuals and, in the case of contributions made by corporations, 35% of the amount donated is not subject to corporate tax.
FAES accounts are audited every year by an independent company and are deposited at the Foundations Protectorate, in compliance with current legislation.