The Third Sector is an integral part of our lives and expresses very high skills and competences, playing a decisive role for the well-being of the territories. From centers for the elderly to green care, from tourist guides to the reception of migrants, from the small sports association to the neighborhood church, from private schools to large nursing homes, social enterprises contribute to maintaining the socio-economic context, creating a strong connection with local communities and their cultural traditions.
According to an analysis by the Studies and Research Department of Intesa Sanpaolo, the Third Sector represents an important part of the economic and social fabric of our country: in Italy at the end of 2020 there were 363,500 non-profit institutions employing 870,000 employees. The growth of these institutions did not stop during the pandemic: between 2019 and 2020 they increased by almost 1,000 units, with employees increasing by around 8,000 people.
Almost 110,000 non-profit organizations have chosen Intesa Sanpaolo as their banking partner. Among these are over 78,000 associations, 6,500 social cooperatives, and around 2,900 foundations. Overall, the Bank holds a market share close to 30% in the Third Sector and the loans disbursed in 2022 alone were over 330 million.
To highlight this world, which is silently dedicated to the shared good economy, Intesa Sanpaolo has considered essential to invest in a model for assessing the social impact of loans disbursed to non-profits which, using rigorous and internationally recognized methodologies, can calculate the effects that the financed initiatives generate in society.
The processing of the data collected has made it possible to estimate the impact of the initiatives financed in 2022 for a year of full operation, providing useful suggestions for building an overall and systematic reporting of the impact survey, in line with the mission of the Management Impact and ambition of the Group (impact bank). Between the main responsibilities:
- the loan approved by Intesa Sanpaolo was considered decisive (48% of the total) or useful (48% of the total) for pursuing the objectives of social or environmental impact;
- 82% of organizations claim to have improved their management skills thanks to interaction with the Bank;
- on average, the funded initiatives will become fully operational within 9 months of obtaining the funding. About 48% of the total will reach full operation within a single year, only 4% of the total after 3 or more years;
- the funded initiatives will generate impacts, on average, for 6 years and 5 months. 47% of the total will be able to generate impacts for 10 or more years starting from the moment they become operational, 34% of the total for less than 5 years;
- when fully operational, the beneficiaries of the initiatives will be approximately 2.7 million;
- over 22,000 jobs will be created in the financed organizations and another 31,000 as a result of an indirect effect on the reference communities (e.g. job integration of people who have received professional training);
- more than 1,000 new volunteers to be employed by all funded organizations;
- 34,000 people will receive assistance in emergencies;
- 17,000 young people will receive education and job training;
- 44,000 people will receive healthcare they could not access;
- 3,000 cultural events will be supported, 2,300 sporting events will see the light;
- 1,000 tons of waste and 884 tons of CO2 will not be produced.
In the future, the ex-ante analysis may be accompanied by an ex-post analysis, using the same indicators, and specific KPIs will be defined for crowdfunding initiatives.
This initiative represents a further reinforcement of the Intesa Sanpaolo Group's positioning as an "impact bank" and European leader in sustainable finance.