Donations Report ESADE Foundation 2009-2010
“At ESADE, we don’t want to be the best school in the world; we want to be one of the best schools for the world.”
Contents
1 Letter from Pedro Fontana, President, ESADE Foundation Board of Trustees........................................................................................................... 4 Letter from Eugènia Bieto, ESADE Director General.................................................................................................................................................................. 5
2 Trends in private donations............................................................................................................................................. 6
3 Source of private donations............................................................................................................................................ 7
4 Impact of private donations............................................................................................................................................. 8 Research and faculty....................................................................................................................................................................... 8 Scholarships........................................................................................................................................................................................10 Endowment ..........................................................................................................................................................................................12
5 How you can contribute ...................................................................................................................................................13
6 Governance......................................................................................................................................................................................14
7 Thank you ........................................................................................................................................................................................17
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1 LETTERS OF INTRODUCTION
Pedro Fontana President, ESADE Foundation Board of Trustees
This extraordinary investment has been and will continue to be possible thanks to the support from the numerous people and organisations who have trusted in ESADE.
Over the last few years, ESADE has experienced a period of expansion and growth, positioning it as one of the world’s best academic institutions. Our challenge over the next few years is to consolidate this position and make ESADE an academic reference due to its entrepreneurial, innovative and socially responsible nature. To achieve this, we have to continue to substantially increase the investment in those strategic areas in which all top-level academic institutions compete: on the one hand, we have to have a competitive scholarship programme to recruit highly talented students and, on the other, we have to be able to attract faculty with great international potential and foment research with great international repercussions. This extraordinary investment has been possible and will continue to be possible thanks to the support from the numerous people and organisations who have trusted in ESADE. Their report donations are the best proof of this trust. Thank you for accompanying us on this path, enabling ESADE to continue to be an institution of excellence on the global map.
Eugenia Bieto ESADE Director General
We must also face the challenge of contributing to the creation of knowledge by investing in pioneering research projects.
I take up my duties as Director General, willing to assume the challenges this new period represents for ESADE. The first of these challenges is being able to manage the growing diversity of our organisation: a student body representing more than 80 nationalities, a faculty with up to 15 different countries of origin and an institution with a firm commitment to hiring more international faculty. We must also face the challenge of contributing to the creation of knowledge by investing in pioneering research projects. Another of ESADE’s strategic projects for the future is to attract the best talent to our classrooms without cost being a barrier for them. Education is the only way to fulfil the Millennium Goals, and that is why we have to make education accessible to everyone. It is for this reason that we have to continue to invest in an ambitious scholarship programme which is even more important given these times of economic difficulty. All these challenges can be assumed thanks to the tenacity of all of us but, especially, to the individuals and companies making donations to ESADE and who continue to trust in our institution. I would like to thank all of these donors for their support, donors with whom we will face all the challenges of the new 2010-2011 academic year.
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2 TRENDS IN PRIVATE DONATIONS
2009-2010
During the 2009-2010 academic year, private donations to ESADE fell by 8% with respect to the previous year, totalling approximately 3.7 million euros. This can be attributed primarily to the economic situation, and both the social and educational sectors have seen donations from private sources diminish over the last few years. In the United States, for example, private donations to educational institutions have dropped 10%. Despite this situation, however, more than 200 organisations and individuals have continued to support ESADE, the majority maintaining their previous donation levels.
“Research is ESADE’s mental infrastructure, allowing us to create intellectual capital: creating value in the classrooms to enrich the student body, providing knowledge to companies for them to innovate their processes and products, and also benefiting the scholars themselves.” Alfons Sauquet Dean of ESADE and ESADE Business School
Total income for ESADE has continued to grow in line with trends observed during the previous financial years, though this growth has been more moderate over the last few years. Private donations represent 5% of ESADE’s total income.
Trends in private donations 4.055.926€
- 8%
3.740.137€
3.641.608€ 2.020.121€
2006-2007
2007-2008
2008-2009
2009-2010
Growth in ESADE income 74.835.000€ 71.171.000€
+5%
70.689.000€ 58.191.000€
2006-2007
2007-2008
2008-2009
2009-2010
3 SOURCE OF PRIVATE DONATIONS
Diversification ESADE has gradually diversified the source of the private donations it has received. The vast majority of contributions continue to come from companies and foundations, representing 95% of total donations. Income from the yield on our endowment has grown thanks to an increase in capital. This academic year, the return generated represented 4% of total funds raised.
“I chose ESADE because it is one of the leading management schools in Europe. I’ve found an environment here which supports what I most like: teaching to innovate. The decision to create ESADE Creapolis has been decisive as it is a laboratory which supports companies and management students in developing innovative ideas and applying them to future and new business models.”
The novel source of funds this year came with the launch of the first donations campaign aimed at individual contributors. In the first three months of the campaign, the 20092010 academic year, these individual donations represented 1% of all contributions.
Source of private donations to ESADE Foundation
Return from endowment 4% Individuals 1%
Henry Chesbrough ESADE Visiting Professor and creator of Open Innovation theory
Companies and foundations 95%
Source of ESADE income MBA 21% University Programmes 33% Executive Education 30% Executive Language Center 4% Private donations 5% Competitive calls for research 6% Other income 1%
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4 IMPACT OF PRIVATE DONATIONS
RESEARCH AND FACULTY The donations ESADE receives are distributed to three areas: · Research and faculty: to create relevant knowledge internationally in the management and legal fields. · Scholarships: to attract the best talent to our classrooms and promote equal opportunities.
“I passionately believe in scholarships. When I was told about the Scholarship Campaign, I immediately knew that I would get involved and not just as a spectator. My involvement in the campaign is the best proof of my support for ESADE’s global scholarship project and the confidence I have in our being able to attract the best talent to our classrooms.” Lola Bardají Professor, Department of Private Law, and donor
· Endowment: to guarantee our institutional stability and invest in mid and long-term projects. Below we detail the final distribution of contributions during the 2009-2010 academic year. The Research and Faculty Fund was the primary beneficiary of the donations received, representing 67% of the total. Supporting research is one of ESADE’s priorities as quality research is the basic raw material of top-rate educational institutions. During the 2009-2010 academic year, the Faculty and Research Fund received €2,493,910 in direct contributions from organisations, non-binding contributions and the return from our endowment. Unrestricted gifts are distributed by the Fund Allocation Committee in accordance with ESADE’s strategic priorities. Included amongst these priorities are fomenting research and supporting faculty. For further information, please see the section on Governance, below. In addition to the external donations received for research and faculty, ESADE has increased the internal resources it allocates to research projects every year, the aim being to consolidate our institution as a high-performance centre for innovation in the management and legal fields. In this same vein, ESADE also makes significant investment efforts every year to recruit and retain faculty with the desired international profile.
Destination of private donations to ESADE Foundation 2009-2010
Endowment 19% Scholarships 14% Research and faculty 67%
RESEARCH RESULTS 2006-2007
2007-2008
2008-2009
2009-2010
33
43
45
61
+ 35%
17
19
35
44
+ 26%
Books
30
27
37
28
Book chapters
43
56
35
48
Contributions at academic conferences and congresses
87
68
77
83
Other conferences
108
134
139
101
Working papers
9
2
3
7
Case studies
14
8
20
25
Book reviews
8
5
2
3
Monographs
16
4
10
8
PhD theses
23
9
9
13
Articles en refereed journals (peer-reviewed) Articles in other important journals
“Investing in research is for ESADE as necessary as water is for plants. The most important thing about this investment in research is the return it implies for the institution. Personally, I feel very fortunate to have taken part in a research programme at the Georgetown University Law Center. I sincerely believe that the objective goes well beyond financing a given project in that all knowledge creation is added to ESADE’s global project which is none other than generating, promoting and creating talent.” Diana Ferrer Assistant Professor, Department of Public Law, and donor
+ 25%
+ 44%
Source: ESADE Research Yearbook 2009-2010
Research Fund for Entrepreneurial Initiative During the 2009-2010 academic year, Grupo Santander and ESADE created the Research Fund for Entrepreneurial Initiative. Its aim is to contribute to broaden the scope of ESADE’s educational project, representing both institutions’ commitment to the business community and entrepreneurship as the motor behind progress. This joint fund has been created as an endowed fund. The principle is invested in perpetuity, and only the income generated can be used, thus giving the projects it finances stability as it permanently generates new resources. Agrolimen Research Fund In the second year since its creation, the Agrolimen Research Fund has generated more than €50,000, which have been allocated to ESADE’s Entrepreneurship Institute and research focusing on innovation.
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4 IMPACT OF PRIVATE DONATIONS
SCHOLARSHIPS Investing in talent is one of ESADE’s principle strategic lines, the motive for which the institution has always allocated its own resources to this area. In the last few years, ESADE has also been able to count on private donations to the Scholarship Fund from a variety of organisations. And, for the first time ever, it has also begun to count on the support of individual contributors. In all, the contributions to the Scholarship Fund represent 14% of all donations.
“I think talent recruitment favours the image ESADE projects onto society and so benefits the alumni and people who work at the institution. Voluntary donations to the Scholarship Programme are a moral commitment to ourselves and talented people without economic resources.” Francesc Xavier Mena Minister of Enterprise and Labour in the Government of Catalonia, Professor in the ESADE Department of Economics until December 2010 and donor
In the 2009-2010 academic year, the Scholarship Fund received private donations totalling €546,226 from direct donations, from unrestricted gifts and the return on our endowment. Unrestricted gifts are distributed by the Fund Allocation Committee in accordance with ESADE’s strategic priorities. Included amongst these are creating scholarships for talented students all over the world.. For further information, please see the section on Governance, below. During the 2009-2010 academic year, ESADE allocated over 1.6 million euros to scholarships, benefiting more than 250 students. During the 2009-2010 academic year, ESADE and ESADE Alumni launched the Scholarship Campaign, the first massive initiative to raise individual contributions from our alumni. The goal of this campaign is to become the primary source of donations with which to attract talent to ESADE. Undergraduate Class of ’88 Scholarship Fund In the second year of this fund created by a graduating class, alumni contributions have made it possible to maintain a scholarship in perpetuity, aimed at helping academically excellent students with limited economic resources. During the 2009-2010 academic year, the fund earned €4,514 in income which provided a 40% scholarship to a student in the Bachelor of Business Administration programme.
FUNDS ALLOCATED TO SCHOLARSHIPS €1.800.000 €1.600.000 €1.400.000
“The donation system is a model which works at other business schools, especially in the United States but now also in Europe. Clearly this trend will be adopted by other business schools sooner or later because it is a means to maintain excellence.”
€1.200.000
Mar Massafrets 2004 Lic&MBA alumni and donor
0
+ 60%
€1.000.000 €800.000 €600.000 €400.000 €200.000
2003-2004
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
2009-2010
STUDENTS RECEIVING SCHOLARSHIPS 300 250
+ 48%
200 150 100 50 0 2003-2004
2004-2005
2005-2006
2006-2007
2007-2008
2008-2009
2009-2010
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4 IMPACT OF PRIVATE DONATIONS
ENDOWMENT During the 2009-2010 academic year, contributions to our endowment totalled 700,000 euros, representing 19% of all donations. This figure enabled our capitalised fund to reach 3.9 million euros by the end of the year.
“Endowments are an investment in the future, allowing educational institutions to guarantee their economic sustainability and ability to invest in projects over the long term. In ESADE’s case, and thanks to our endowment, we can generate more resources for scholarships and research.” Sònia Gómez Director, Economic-Financial department and donor
One of the strategic challenges faced by ESADE is being able to guarantee stability for future generations of faculty and students. With this in mind, ESADE created its own endowment fund four years ago. This fund permits only using the annual income generated by the principle for strategic projects. This system enables us to balance the use of our resources, a fundamental factor in ensuring the institution’s stability and financial future. Responsible for optimising the investment of funds, the ESADE Investment Committee’s goal is to design and submit endowment investment proposals to the Board of Trustees, ESADE’s highest governing body. For more information, see the section on ‘Governance’ contained in this report.
ENDOWMENT FUND DEVELOPMENT €4.500.000 €4.000.000
+ 29%
€3.500.000 €3.000.000 €2.500.000 €2.000.000 €1.500.000 €1.000.000 €500.000 0
2006-2007
2007-2008
2008-2009
2009-2010
5 HOW YOU CAN CONTRIBUTE
Over 200 organisations and individuals gave their support to ESADE’s educational project during the 2009-2010 academic year. You too can take part in this collective project and contribute to strengthening ESADE’s international presence in the future.
INDIVIDUALS Any contribution is helpful. The efforts of all those who believe in ESADE’s educational project have a great impact collectively.
“A scholarship system is a very versatile tool, one that has the ability to provide a lot of very different potentialities for an institution with growth perspectives and which aims to capture and reward talent and, especially, improve as an educational centre and institution alongside what should be its best asset: its students.” Gemma Lligadas González Scholarship recipient in the fifth year of the Combined Undergraduate and Master in Law Programme
For every 30 alumni who donate €200, we can offer a 50% tuition scholarship for an undergraduate student. As an individual, you can donate to the: · Scholarship Fund · Research and Faculty Fund · ESADE Fund (unrestricted gifts ) All individual donations over €50 add up and have a great collective impact. Donations over €500 receive special recognition within our Leadership Circles due to the commitment they represent. Individuals can deduct 25% of the total donations they make to ESADE Foundation from their personal income tax returns (so long as this amount doesn’t exceed 10% of those individuals’ tax base).*
ORGANISATIONS ESADE has always collaborated closely with companies and organisations which, over the years, have contributed to improving the excellence of the educational programmes we provide our students. As a company, you can support the: · Scholarship Fund · Different research projects, from a concrete project to creating a specific Chair · ESADE Fund, which agglutinates the non-binding donations made during the year In all the above cases, companies and organisations receive different visibility and recognition depending on their contributions. Legal entities who make donations to ESADE Foundation have the right to deduct 35% of their donations from their corresponding corporate tax returns (so long as this amount does not exceed their tax base during the same fiscal period; amounts exceeding this limit can be applied to fiscal periods within the next ten years).*
* ESADE Foundation is a not-for-profit institution subject to Law 49/2002, dated 23rd December, on the fiscal regime applied to not-for-profit organisations and fiscal incentives for their patronage.
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6 GOVERNANCE
Not-for-profit organisations such as ESADE have the responsibility and obligation to watch over the rights of their donors. To guarantee the rigorous and responsible application of the donated funds, ESADE has several committees which decide on and ensure that they are applied to their respective assigned ends. The ESADE committees in charge of maintaining this control and transparency are:
“By donating to ESADE you’re directly and indirectly helping to create opportunities for a better future, by improving accessibility to a top education for talented people with limited resources.” Stacey Yuen Scholarship recipient in the 2011 Full-Time MBA
INVESTMENT COMMITTEE Its objective is to ensure that a balanced investment policy is applied to the funds ESADE receives for its endowment. The primary functions of this committee are to: · Manage the endowment to guarantee its profitability while applying prudent investment criteria. · Ensure that ESADE Foundation’s Department of Finance applies the defined policy and is held accountable. This committee meets twice every academic year and informs the Board of Trustees of its decisions. Members: · A representative from the ESADE Board of Trustees · The Corporate Deputy Director General · The Finance Director
FUND ALLOCATION COMMITTEE The objective of the Fund Allocation Committee is to guarantee that the non-binding donations ESADE receives are allocated as transparently and as best possible according to the institution’s needs. This committee’s primary functions are to: · Determine ESADE’s developmental priorities which will benefit from the income provided by fundraising efforts. · Protect the value of ESADE’s endowment, carrying out the necessary reinvestments. · Allocate the donations received according to priorities identified. · Report to the ESADE community about fund results and allocation. · Ensure that donations are correctly applied to the projects agreed on. This committee meets twice every year and informs the Board of Trustees’ Executive Committee of its decisions. Members: · The Director General · The Corporate Deputy Director General · The Dean of the Business School · The Dean of the Law School · The Finance Director · The Director of Corporate Relations
SCHOLARSHIP COMMITTEE The primary goal of ESADE’s Scholarship Committee is to adjudicate scholarships to outstanding, talented students who lack the necessary economic resources, thus guaranteeing equal opportunities. This committee’s primary functions are to:
“No candidate should be kept from attending ESADE for economic reasons. Talent is our raw material; it’s the ability to innovate, to solve problems, searching for the optimal solution for everyone, looking beyond the surface and leading projects and institutions. All contributions are valuable; the sum of everyone’s efforts end up having a great impact.” F. Jordi Fabregat Professor, Department of Financial Management and Control and donor
· Adjudicate scholarships to those students with a distinguished academic trajectory but who lack the economic resources to study at ESADE. · Keep track of scholarship recipients’ academic progress. · Prepare management reports for ESADE’s Annual Report and for institutional presentations. This committee meets four times per year in March, May, June and September. Members: · The President · The Secretary · The Dean of the Law School · The Executive Director of University Programmes · A representative from the ESADE Board of Trustees · A representative from the Law School · A representative from University Programmes · An alumni representative · A representative from Corporate Relations · A representative from Marketing and Admissions
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7 THANK YOU
Thanks to all those individuals who, through their economic support, help to make the ESADE project possible.
INDIVIDUALS WHO HAVE CONTRIBUTED TO ESADE WITH THEIR DONATIONS Almirall Mezquita, Esteve Arellano Gil, Pedro Arnedo Santamaria, Meritxell Bardají Gálvez, Lola Bartlett Castellà, Enric Bassal Riera, Alfredo Batista Foguet, Joan Manuel Bisbe Viñas, Josep Bofarull Viu, Ivan Bueso Sardinero, Silvia Burgués Bassols, Lluís Calicó Soler, Joan Cano Giner, Josep Lluís Capo Alomar, Bartolomé Carazo Rodríguez, Alejandro Casacuberta Calzadilla, Albert Casals Dalmau, Josep Maria Català Pons, Joan Claveria Viladegut, Joan Colás Ricart, Miquel Colet Petit, Enric Cortés Serra, Lluís Ignasi Cribillers Riera, Francisco Delgado Planas, Antonio Díaz Gabarrón, Ana María Díaz-Barceló Caffarena, Javier Dueñas Sucrana, Pau Espuga Sorribes, Magdalena Estabanell Buxó, Antoni Fabregat Feldsztajn, Jordi Fernández Barnosell, Myriam Ferrer Vidal, Diana Folguera Ventura, Antoni Fontana García, Pedro Formosa Prat, Feliu Gimeno Fernández, Mireia Gimeno Sandig, Alberto Gomà-Camps Travé, Jordi Gómez Serrano, Sonia Guerrero Pérez, José Luis
Guivernau Escuer, Josep Maria Joana Calaf, José María Judel Prieto, Francisco Javier Labazuy Miranda, Ana Isabel Lechà Soler, Joaquim Llobera Vila, Xavier Lloveras Soler, Josep Maria Maranges Bayó, Jaume Marin Vilaburgès, Núria Martínez-Almoyna Rifá, Lluís Mas Navarro, Joan Ramon Massafrets García, María del Mar Massons Rabassa, Joan Mena López, Francesc Xavier Mendoza Mayordomo, Xavier Milà Canals, Agustí Mojica Soto, Joana Àngela Montes Güell, Miquel Nogueira Canle, Martiño Ollé Valls, Montse Peiró Posadas, Manuel Pérez Dávila, Esteban Pozo García, José Antonio del Puigbó Sanvisens, Judith Quege, Marco Antonio Ramis Pujol, Juan Riera Calvo, Joan Rius Satué, Mònica Rull Castelló, José Luis Ruyet Pérez, David Sainz Pelegrí, Vega Sandee, Karina Sardà Alsina, Joaquim Serlavós Serra, Ricard Suárez Ballesteros, Juan José Trias de Bes Ustariz, Belén Trías Sagnier, Miguel Viñolas Serra, Pere Vives Córtazar, Josep Maria
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7 THANK YOU
Thanks to all the companies and organisations which, through their economic support, help to make the ESADE project possible.
COMPANIES AND ORGANISATIONS THAT HAVE CONTRIBUTED TO ESADE FUNDS WITH UNRESTRICTED DONATIONS THROUGH THE CORPORATE RELATIONS PROGRAMME SENIOR PARTNERS Agrolimen
ESADE Alumni
Santander
PARTNERS Celsa Group TM
Cementos Molins
Werfen Group
SENIOR INVESTORS Abertis COMSA EMTE Gas Natural SDG
Endesa ISS Facility Services Roca
INVESTORS Accenture Acsa Sorigué Aramark Bacardi España Banc Sabadell Bayer BBVA Caixa Manresa Caja Madrid Caprabo Cobega Criteria CaixaCorp
Danone Deloitte Elecnor Ernst & Young FMC Foret Freixenet Fundació Caixa Catalunya Fundació Agbar Fundació Damm Fundación Puig Grupo Catalana Occidente Grupo Mahou San Miguel
AFFILIATES FIACT Ince
Mercer Miguel Torres
Grupo Novartis en España Henkel IBM Metalogenia Nestlé España Penteo ICT Analyst PricewaterhouseCoopers Santa & Cole Zurich España
COMPANIES AND ORGANISATIONS THAT HAVE CONTRIBUTED TO SPECIFIC PROJECTS RESEARCH AND TRAINING MAJOR CONTRIBUTIONS Abertis Accenture Agrolimen BBVA Deloitte Everis Fundació ”la Caixa” Fundació Agbar Fundació Barcelona Comerç
Fundació Caixa Catalunya Fundació Caixa Sabadell Fundació Jaume Bofill Fundació Lluís Carulla Fundació Privada Barcelona Digital Fundación Cultura Banesto Fundación PricewaterhouseCoopers Fundación Repsol Fundación Telefónica
RESEARCH AND TRAINING MAJOR CONTRIBUTIONS Gas Natural SDG ICEX Localret MicroBank ”la Caixa” Promarca
Promoción y planificación hotelera Santander THR Werfen Group
OTHERS 3M España ACEESA Ajuntament de l’Hospitalet de Llobregat Ajuntament de Mataró Ajuntament de Sant Cugat del Vallès Ajuntament de Terrassa Ajuntament d’Igualada AVANÇSA BDO Audiberia Auditores Bonduelle Iberica Caixa de Catalunya Caixa de Manresa Caja Madrid Codorniu Comercial Grupo Freixenet Coordinadora de Gestión de Ingresos Corporación Alimentaria Peñasa Criteria CaixaCorp Danone Diputació de Barcelona Diputació de Tarragona DKV Seguros y Reaseguros EIASM Eplicsa Fitex Fitman Fundació Barcelona Cultura
Fundació Creafutur Fundació Unió Catalana d’Hospitals Fundació TecnoCampus Mataró-Maresme Fundación ONCE Gallina Blanca Generalitat de Catalunya Grup Clade Grupo Leche Pascual INDRA IBM IZASA La Unió ”la Caixa” Microsoft Ibérica Nestlé España Novartis Farmacéutica Nutrexpa Panrico Port de Barcelona Puig Siemens Snack Ventures TecnoCampus Mataró-Maresme Vodafone España
SCHOLARSHIPS MAJOR CONTRIBUTIONS Cresa Patrimonial
Fundació Banc Sabadell
OTHERS Animal
Deutsche Bank
”la Caixa”
INFRASTRUCTURES AND SERVICES MAJOR CONTRIBUTIONS Cementos Molins Diputació de Barcelona
Figueras Intl. Seating Roca
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CORPORATE RELATIONS SERVICE foundation@esade.edu Tel.: (+34) 93 495 2058 www.givingtoesade.com Barcelona-Pedralbes Campus Av. de Pedralbes, 60-62 08034 Barcelona (Spain) Tel.: (+34) 93 280 6162 Fax: (+34) 93 204 8105 Barcelona-Sant Cugat Campus Avda. de la Torreblanca, 59 08172 Sant Cugat del Vallès Barcelona (Spain) Tel.: (+34) 93 280 6162 Fax: (+34) 93 204 8105 Madrid Campus C. de Mateo Inurria, 25-27 28036 Madrid (Spain) Tel.: (+34) 91 359 7714 Fax: (+34) 91 703 0062 Buenos Aires Campus Av. del Libertador, 17175 Becar-San Isidro (B1643CRD) Buenos Aires (Argentina) Tel.: (+54) 1 14 747 1307 Munich Global Center www.esade.edu/munich São Paulo Global Center www.esade.edu/saopaulo www.esade.edu
Through education, research and social debate, ESADE aims to continue to inspiring futures for those who aspire to becoming competent professionals in Management and Law as well as socially responsible citizens. Inspiring futures with values; acting with integrity in the personal realm; being demanding in the professional world and responsible in the social sphere. At ESADE, we don’t want to be the best school in the world; we want to be one of the best schools for the world.