Attached document n. 8741/4523 rep.
(Translated from the Italian original which remains the definitive version)

Fondazione Accademia d’Arti e Mestieri dello Spettacolo Teatro alla Scala


Article 1
1.1 The Teatro alla Scala Foundation has the objectives assigned to it by law and its bylaws: “the training of artistic and technical middle managers”.

1.2 With the intention of pursuing said objectives and fostering the enhancement and preservation of its artistic, historical and cultural heritage,  Fondazione Teatro alla Scala di Milano (hereafter also the “Teatro alla Scala Foundation” or the “Teatro alla Scala di Milano Foundation”) promotes the establishment of the Foundation known as “Accademia d’arti e mestieri dello spettacolo Teatro alla Scala” (hereafter the “Foundation”).

1.3 Without prejudice to its legal and formal independence, the Foundation is established and works towards the pursuit of objectives that are consistent and compatible with those of the Teatro alla Scala Foundation and, in the areas of activity stated at article 1.1, is the means by which the Teatro alla Scala Foundation achieves such objectives.

1.4 Camera di Commercio Industria Artigianato e Agricoltura di Milano (the Milan Chamber of Commerce), Università Commerciale Luigi Bocconi di Milano (the Luigi Bocconi University, Milan), Politecnico di Milano (Milan Polytechnic) and Fondazione Teatro alla Scala di Milano (as above) are the co-founders of the Foundation.

1.5 The use of the term “Teatro alla Scala” is permitted for an indefinite period of time under license from Fondazione Teatro alla Scala di Milano.

Article 2
2.1 The Foundation has its registered office in Via S. Marta 18, Milan. The address of the Foundation’s registered office may be transferred by resolution of the Board of Directors.

2.2 The Foundation may set up secondary offices, representative offices, other offices and delegations in Italy and abroad at which it performs ancillary activities as a means of achieving its objectives.


Article 3

3.1 The Foundation is a non-profit organization.

3.2 Upholding the artistic and cultural tradition of Teatro alla Scala, the Foundation pursues excellence in training and advancement in creative, performance, and production disciplines associated with the arts, the performing arts, all media of expression, and the social, natural, economic, historical, and political sciences associated with them, supporting the training of artists, technicians, and managers.
As a model multidisciplinary structure, the Foundation operates at all levels of education, including higher education, professional training, and ongoing training by developing legally recognized training programs and courses, with special attention to career guidance and placement and the promotion of initiatives to develop and spread knowledge of the performing arts. In this overall sphere, it also promotes research, artistic production, and internationalization.
The Foundation assumes the objective of identifying and cultivating the talent and qualities of its students through instruction that ensures the development of their individual potentials and capacities, providing instruction and training at a high cultural, technical, artistic, scientific, and professional level and promoting the culture of inclusion and the value of gender equality.
The Foundation operates in the national and international arena in close association with the local area and its institutions, and in synergistic collaboration with Teatro alla Scala, placing its competencies at the service of the culture, art, and economy of the nation, fully cognizant of and assuming full responsibility for its cultural and social duties.

3.3 The Foundation performs the following general and specific activities, organizing its facilities and services in compliance with applicable legislation.

A) University and post-graduate education, and scientific, technological, and artistic research of particular social interest via:
the organization and teaching of tertiary training courses, particularly advanced courses in the arts, music, and dance, advanced courses in other subjects, and continuing education in all disciplines within its sphere of competency;
• the organization of research facilities and services, high school, university, and post-graduate education, professional training in general, support in job placement, and all other activities to fulfil the above purposes, which may be performed in collaboration with AFAM (advanced training in music, dance, and the arts) institutions, universities, public or private research institutes, foundations, and associations;
• the promotion of collaborations serving to further its purposes, which may include stipulating agreements with national or international bodies having an analogous purpose or a purpose in some way associated with those of the Foundation or performing activities in the cultural, artistic, or performing arts sector with the intention of developing and implementing strategies and actions of shared interest and similar orientation;
• the organization and direct or indirect management of student residence halls.

B) Education, instruction, and professional training, pursuant to Italian Law no. 53 of March 28, 2003 as currently amended, and cultural activities of social interest with educational purposes via:
the development and promotion of programs and initiatives to support the education and training of young people, which may involve collaboration with public and/or private organizations and receiving funding from said organizations;
• the direct or indirect administration of schools of any level, as well as general educational, cultural, and recreational services;
• the organization and direct or indirect administration of boarding schools for residents and external users.

C) The organization and administration of cultural, artistic, or recreational activities of social interest, including activities, which may include production of editorial content, to promote and circulate the culture and practice of volunteer work via:
the direct or indirect drafting, publication, distribution, and promotion of periodicals, books, texts, pamphlets, and any other editorial material, excluding the printing of daily newspapers;
• the development of teaching materials in support of initiatives undertaken;
• the organization and promotion of exhibitions, seminars, conferences, and other events;
• the production of operas, plays, ballets, and concerts with the prior consent and supervision of Fondazione Teatro alla Scala.

D) Extra-scholastic training with the purpose of preventing failure to complete compulsory schooling, promoting success at school and in professional development, and combating bullying and educational poverty;

E) Actions to protect and promote cultural and geographical heritage in the light of Italian Legislative Decree no. 42 of January 22, 2004 as currently amended.

3.4 The Foundation may also engage in any economic, financial, commercial, and/or real estate activities that it deems necessary, useful, or opportune in pursuing its purposes.


Article 4
4.1  The Foundation’s Endowment Fund consists of an initial endowment as stated in its memorandum of association.

4.2  This fund may be increased by legacies, bequests and donations having this specific purpose.

4.3  Income from the fund and any other income not having as its purpose an increase in the fund, including public or private grants and income from any initiatives promoted by the Board of Directors, constitute the means by which institutional activities are performed.

Article 5
5.1  The following are the Foundation’s bodies:
– the Assembly of Active Founders;
– the Board of Directors;
– the President;
– the Deputy President;
– the Board of Auditors.

5.2  The members of the Foundation’s bodies may not take part in voting on resolutions in which,  on their own behalf or on the behalf of third parties, they have an interest conflicting with that of the Foundation. In these cases they shall be considered to be in attendance for the purposes of the validity of the constitution of the body concerned.

Article 6
6.1  The Active Founders constitute the Founders’ Assembly.

6.2  The Active Founders are those bodies who were party to the Foundation’s memorandum of association and the other public entities qualifying as Founders on 1 September 2008. Any other party, public or private, Italian or non-Italian, an individual or an entity, even if without legal status, that is coopted with a vote in favor of at least two thirds of the Active Founders – following a written inquiry and upon payment of the amount established annually by the Assembly of Active Founders at the time of approval of the financial statements, on the proposal of the board of directors – shall be an Active Founder.

6.3 Active Founders, to maintain this qualification, are required to pay the contribution referred to in Article 6.2 by 31 August of each year. Any other possible disbursement in favor of the Foundation by the active Founding Members, on the other hand, falls within the income referred to in Article 4.3.
The Active Founders have the right of withdrawal. The withdrawal communicated to the Foundation after 31 December does not free the Active Founder from the obligation to pay the contribution by the following 31 August.
In the event that the payment is paid after August 31, the board of directors can re-allocate the qualification with effect from the day of payment.

6.4 The Assembly of Active Founders has exclusively the following duties:

a) to appoint the Vice Chairperson on the Chairperson’s proposal;
b) to appoint the members of the Board of Directors pursuant to Paragraph 8.1 herein;
c) to appoint two members of the Board of Auditors;
d) to resolve any changes to these Bylaws, on the proposal of the Board of Directors pursuant to Paragraph 9.2 herein, without prejudice to Paragraph 7.8 herein;
e) to assign the capacity as Founder member to third parties;
f) to approve the annual financial statements;
g) to resolve the winding-up of the Body, without prejudice to Paragraph 7.8 herein;
h) to express a non-binding opinion on the orientation of the Academy’s activities as established by the Board of Directors;
i) to supervise and control the management of the Academy as regards compliance with the orientation referred to at point h) above;
j) to resolve on the matter of accepting legacies, bequests and donations (Translator’s note: this point refers to Point l [lowercase L] in the Italian original since the letters “j” and “k” are not included in the Italian alphabet);
k) to appoint, if requested by an Active Founder and deemed opportune by the Assembly, an Honorary Chairperson (strictly limited to a natural person who has previously served as Chairperson of the Academy) with an exclusively non-binding and honorary consultatory function. The term of the appointment will be determined by the Assembly upon deliberation of said appointment, cannot exceed three solar years, and otherwise expires at the end of the term of the Board of Directors existing at the time the appointment is deliberated. The Honorary Chairperson is not a member of the Board of Directors. (Translator’s note: this point refers to Point m in the Italian original since the letters “j” and “k” are not included in the Italian alphabet.) See also Art. 9.5.


Article 7
7.1  Each Active Founder, natural or legal person, is entitled to one vote. Entities recognized as Active Founders are represented by their legal representative even if lacking legal status.

7.2  The Assembly of Active Founders meets at least twice a year and when it has to adopt resolutions for which it is competent. In these cases the Assembly is called by the President of the Foundation or else at the request of at least two of the Active Founders. The Assembly is called by registered letter, sent at least eight days before the date set for the meeting.
The notice of call must state the day, time and place at which the meeting will be held, as well as the agenda.

7.3  In case of urgency, a meeting may be called by telegram or telefax with at least three days’ notice.

7.4  Active Founders may grant a written proxy to another Active Founder if they are unable to attend a meeting. No member may act as a proxy for more than two Active Founders.

7.5 The Assembly is chaired by the President of the Foundation or in case of absence or incapacity by the Deputy President, in whose absence the Assembly is chaired by another Founder appointed by the Assembly.

7.6 The Assembly is valid however many Active Founders may attend, either in person or by proxy.

7.7  The Assembly adopts resolutions by a majority of those present (in person or by proxy) unless established otherwise by these Bylaws.

7.8 Resolutions that have been adopted on the approval of changes to the Bylaws or the winding-up of the Body are approved with the attendance of at least three quarters of the Active Founders and a vote in favor of the majority of those present, and in any case with the consent of the Teatro alla Scala di Milano Foundation.

7.9 Minutes are prepared of meetings of the Assembly of Active Founders, and are signed by the President of the Foundation and by the Secretary of the meeting if appointed.

Article 8
8.1 The Foundation is managed by a Board of Directors whose number may vary from 5 to 12 (including the President and the Deputy President), depending on the figure established previously by the Teatro alla Scala Foundation. The President is appointed by the latter. The Deputy President is appointed by the Assembly on the proposal of the President. The other directors are appointed by the Teatro alla Scala Foundation to ensure a number (including the President and the Deputy President) that gives the Foundation a majority on the Board; the remaining directors are appointed by the Assembly.

8.2 The Board of Directors remains in office for three financial years, or until revocation or resignation if less, and its members may be re-elected.

8.3 If during their term one or more members of the Board should leave office for any reason, the President ensures that a substitute for the member who has left office is appointed by the party having the power to do so. The term of office for newly-appointed members expires with that of the Board to which they have been newly appointed.


Article 9
9.1 The Board of Directors has all the powers of ordinary and extraordinary management other than those assigned by these Bylaws to the Assembly of Founders.

9.2 The Board of Directors approves the budget for the following year by 31 July and draws up the proposed changes to the Bylaws resolved by the Assembly.

9.3 The Board of Directors has, inter alia, the duty to manage and coordinate the Foundation’s artistic production activities, and activities connected with and instrumental to such, as part of the approved artistic activity programs, without prejudice to the provisions of article 3.3 i).

9.4 The Board of Directors usually meets every three months and at any other time the President considers appropriate. Call notices may be sent by any means, including electronic, which guarantee receipt at least twenty four hours before the meeting, and must contain details of the matters to be discussed.

9.5 The Board is validly constituted with the presence of the majority of its members in office; resolutions are taken by a majority of those present; in the event of a tie, the vote of the President prevails.The meetings are chaired by the President or, in his absence, by the Vice President, or failing that, by another director designated by the Board.Participation in board meetings can also take place via audio or videoconference or other means of communication, provided that all participants can be identified by the chairman and other attendees, and that they are allowed to follow the discussion and speak in real time to the discussion of the topics discussed, and that all this is acknowledged in the relative minutes. If these requirements are verified, the meeting is considered to be held in the place where the president and the secretary are located. Resolutions are recorded in minutes signed by the Chairman of the meeting and by the secretary. The resolutions are valid, even if not adopted in meeting, if signed by all the directors in office. 

If necessary due to organizational constraints and if all other above conditions are met, by order of the Chairperson, the meetings may be conducted exclusively in videoconference mode (in this case no physical location will be recorded).

The resolutions are valid, even if not adopted in a meeting, if signed by all active board members.

The Honorary Chairperson is not a member of the Board of Directors but may participate in the meetings of the Board of Directors exclusively in a consultatory, non-binding manner, without the right to vote.

9.6 The Board of Directors may delegate part of its powers of ordinary management to the President, the Deputy President or individual directors, with the possibility of sub-delegating to third parties.

Article 10
10.1 The President, appointed by the Board of Directors of the Teatro alla Scala Foundation, is the Foundation’s legal representative, chairs the Board of Directors and the Assembly of Active Founders and ensures that resolutions adopted by these bodies are executed.

10.2 The directors may also represent the Foundation with regard to third parties and in court, as may proxies delegated by the Board, within the limit of their delegated powers.

10.3 The President may also appoint a general manager, who need not necessarily be a member of the Board of Directors, establishing his or her powers and remuneration.

10.4 If the president resigns, the Board of Directors of the Teatro alla Scala Foundation may deem the term of office of the whole Board of Directors expired or may replace the President.

Article 11
11.1 The Deputy President is appointed by the Assembly on the proposal of the President pursuant to article 6.4 b).

11.2 The Deputy President takes the place of the Foundation’s President in the case of absence or incapacity and performs the duties delegated to him or her by the President.

11.3 With respect to third parties, the Deputy President’s signature suffices for assuming the absence or incapacity of the President and is sufficient for releasing third parties, including public offices, from any interference or responsibility regarding limits to the powers of representation for the documents to which the signature refers.

Article 12
12.1 The Board of Auditors exercises control over the proper administration of the Foundation. The Board consists of three members, two of whom are appointed by the Assembly of Active Founders and one by the Teatro alla Scala Foundation.

12.2 The members of the Board are all selected from auditors whose names are included in the Register of Auditors held at the Ministry of Economy and Finance.

12.3 The provisions on Boards of Auditors included in articles 2399 et seq. of the Italian civil code are applicable to the Board to the extent compatible.

12.4 The Auditors must attend meetings of the Board of Directors.

12.5 The Board of Auditors remains in office for three financial years and may be re-elected.


Article 13
13.1  The financial year begins on 1 September every year and ends on 31 August.

13.2  The Assembly approves the annual financial statements for the financial year just ended by 31 December of each year. The Board of Directors prepares these financial statements.

13.3  The annual financial statements consist of a balance sheet, an income statement, notes to the financial statements and a report on operations and must be accompanied by the report of the Board of Auditors.

13.4  The annual financial statements must be sent to the Board of Auditors at least thirty days before the date set for the Assembly of Founders to discuss such.

13.5  A copy of the annual financial statements, together with the report of the Board of Auditors, must be lodged at the Foundation’s registered office during the fifteen days preceding the Assembly. The Active Founders may review such documents.

Article 14
14.1  The Foundation is established without fixed duration. The Foundation is wound up by way of a resolution of the Assembly of Active Founders adopted by the means described in article 7.8.

14.2 In case of winding-up, any residual assets shall be devolved to the Teatro alla Scala di Milano Foundation for use for similar purposes.

Article 15
15.1  For any matters not expressly dealt with in these Bylaws reference should be made to the provisions on foundations included in the Italian civil code.


Milan, April 10, 2024