Article 1
A Foundation called “Fondazione Carlo Levi” is hereby established, with headquarters in Rome, intended to protect the intellectual and artistic personality of Carlo Levi (civil status: Carlo Graziadio Levi) and to ensure that his work and his contribution to Italian culture and artistic heritage is protected, safeguarded and preserved for as long as possible.
The purpose of the Foundation is:
The preservation, for the purposes of historiographical and philological organization of the archive material of Carlo Levi, consisting of autographs of his literary, published, unpublished and documentary works – letters, photographs, memorabilia.
The preservation and the ordering of the library and of all 11 printed materials relating to Carlo Levi’s biography, literary and artistic works.
The conservation and inventory of the entire pictorial and graphic heritage.

The Foundation will take particular care and attention with specific reference to:
a) the pictorial works: preservation, in a single and suitable location, of a vast, broad anthological selection of pictorial and graphic works, continuously exhibited to the public; decentralization of indicative nuclei of the aforementioned works to multiple, equally suitable locations within the territory of the Italian state; possibly housed in cultural institutions and local authorities in the individual regions, in order to facilitate constant exposure to the public, with the consequent proposal to promote, around these exhibitions, the most varied cultural initiatives; creation of an important nucleus of anthological paintings, destined for a travelling exhibition abroad; constitution of another important nucleus of paintings, still of anthological nature, intended for a travelling exhibition in Italy.
The one and the other nucleus, at the end of their respective exhibitions, will have to return to the Carlo Levi Foundation headquarters;

b) the publication of the unpublished work; and the care of any possible reprinting and translation, with the ultimate aim of rearranging the author’s complete works in a critical edition;

c) the promotion of the widest possible initiatives, aimed at enhancing and honoring the author’s work and memory through the establishment of study centers and scholarships, conferences, round tables and all literary and historiographical research works that may arise.

Article 2
The Foundation is headquartered in Rome.

Article 3
The Foundation’s heritage consists of:
a) movable property (paintings) as referred to in the Foundation’s Memorandum of Association of which these Statute is an integral part;
b) titles, as referred to in the same charter of the Foundation;
c) titles from the Italian Government that may be acquired as a result of administrative savings and from assets that may be received by the Foundation through wills, donations, offerings, legacies, and disbursements from those who have a desire and love for the strengthening of thebeneficial institution.
The Foundation shall provide for the achievement of its purposes with the income from its assets and with the sale of the above-mentioned paintings to an extent not exceeding 40%.
The Board of Directors shall provide for the investment of the money that comes to the Foundation in the way it deems most secure and profitable.

Article 4
The Foundation is governed by a Board of Directors that consists of six to nine members who serve a five-year term and can be reappointed.
The Board may appoint an Executive Committee consisting of three Board Members establishing the related tasks. The Board may also delegate powers to individual Board members and individual Councilors for the performance of specific tasks, as well as call upon the assistance of technical advisors.
Should one of the members of the Board of Directors cease to hold office for any reason whatsoever, the person appointed as replacement shall hold office until the end of the current five-year term.
The President by right is Mrs. Lina Saba, founder in execution of the late Carlo Levi’s will, who may at any time resign from office.
In the event of a new President being appointed, it will be carried out by the Board of Directors within its own sphere.

Article 5
The members of the Board of Directors shall be chosen from among the admirers of the deceased artist and from among persons who have distinguished themselves in the field of art and culture, or from among persons whose specific professional expertise can contribute to the achievement of the social aims.

Article 6
The Board of Directors is responsible for approving the budget by the month of December and the balance sheet by the month of February. The Board has all powers for ordinary and extraordinary administration.
In particular, it is responsible for the administration of the Foundation’s heritage, the management of ordinary and extraordinary income as well as the distribution of annual budgeted income among the various branches that constitute the Foundation’s purpose.

Article 7
The President is the legal representative of the Foundation
before third parties and in court.
Furthermore, the President:
– convenes the Board of Directors and presides over it, proposing the matters to be dealt with in the meetings, signing the acts and whatever is necessary to carry out the deliberations;
– supervises the proper administration of the Foundation;
– ensure compliance with the Statute and promote its reform when necessary;
– provides for the execution of the Board’s resolutions and for relations with the guardianship authorities; in case of urgency, takes all appropriate measures reporting back to the Board as soon as possible.
If the President is absent or unable to attend, the oldest Board member takes his place.

Article 8
The Board of Directors normally meets in ordinary session twice a year, and exceptionally whenever the President deems it necessary or is requested in writing by at least two of its members.
The meeting is convened by the President with written invitation at least eight days before, including the agenda to be discussed.

Article 9
Meetings of the Board of Directors shall be valid if the majority of its members is present.
Decisions shall be taken by absolute majority and by open vote.
In the event of a tie, the vote of the President prevails.

Article 10
The minutes of the resolutions of the Board of Directors must be transcribed in chronological order in a special register and must be signed by the President and the Secretary.
The Secretary of the Board of Directors is appointed by the Board, and may also be an outsider to the Board.
Members of the Board of Directors do not receive any compensation for their activities, except for the reimbursement of expenses incurred for reasons of office.

Article 11
The Foundation’s financial year begins on 1st January and ends on 31st December of each year.

Article 12
For anything not provided for in this Statute, reference shall be made to the provisions for Foundations in the current Civil Code.