2023 Financial Statements: Production Value Exceeds 14 Million

The Istituto degli Innocenti confirms itself as a financially solid organisation, as well as a point of reference in the three areas in which it operates: education, admissions and support for families and parenthood; study, research, documentation, training and information in all fields concerning childhood, adolescence, families, maternity and the condition of women; popularisation of its artistic, monumental and historical-archival heritage. In fact, the 2023 financial year closed, from an accounting point of view, with a production value of 14,649,790 euros, an increase over the previous year (+5%). In spite of some critical issues related to external circumstances, the growth trend that began in 2017-2018 was thus consolidated.

The increase in production value is mainly due to the increase in revenues from sales and services, which grew by 7% (to a total value of about 950,000 euros). The core business of the Institute, i.e., documentation, research, training, information and promotion, remains at an excellent level. Since 2020, the recognition of the Institute as the reference entity for managing the activities of the National Documentation and Analysis Centre for Childhood and Adolescence, with the possibility of long-term planning, has certainly allowed for improved programming capabilities. However, the Institute will need to remain particularly attentive to its economic and financial balance, due to the reduction in available resources caused by the 2024 Budget Law.

Political tensions at international level and the considerable increase in inflation caused an increase in general costs and in particular in utilities. Nevertheless, the Florentine organisation continued to carry out its activities with positive results, including the emergency reception of Ukrainian children and young people fleeing the conflict since March 2022, assistance that continued throughout 2023.

Excellent results were also achieved in the area of cultural and conference activities, which saw volumes settle positively at pre-Covid levels.

The financial year closed on 31 December marks the second financial statement linked to the mandate of the Board of Directors, which took office on 24 January 2022. In order to maintain balanced financial statements, the objective for the following years will still be to ensure a constant and, as far as possible, stable level of revenues so that the results achieved so far can be maintained.

For details of the Institute’s activities and results, please refer to the publication entitled “2023. Un anno di lavoro agli Innocenti. Report sulle attività svolte” (2023. A Year of Work at the Innocenti: Report on Activities.)