The EDP Foundation is a not-for-profit institution governed by private law; it was established on 13 December 2004 by the trustor EDP – Energias de Portugal, S.A., and recognised on 24 October 2005.
The EDP Foundation was declared a public interest institution on 4 December 2009, a status that was confirmed on 4 February 2013.
On the date of its creation, the EDP Foundation's initial equity comprised the following:
a) The property known as the "Museu da Eletricidade" and its respective annexes, located at Central Tejo- Avenida Brasília, in Lisbon;
b) Other properties that may be donated by EDP;
c) The museum assets that form part of the Museu da Eletricidade estate;
d) The works in the collection's initial visual arts section on the date the EDP Foundation was established;
e) The financial contribution of 5,000,000 euros provided by EDP as founder;
f) The movable and immovable property and works of art, whether purchased, donated, inherited, or delegated, for reward or free of charge;
g) Any occasional or permanent contributions from any legal entity governed by private or public law.
The EDP Foundation's annual budget derives from EDP Group transfers and contributions form its shareholders, as well as income from some of the EDP Foundation's activities.
The EDP Foundation accounts are published in the Annual Report and Accounts, which are submitted to an external auditor, whose certificate and report is included at the end of the Annual Report and Accounts.
Measurement of social impact: LBG model
The EDP Foundation measures its activities' social impact through the model provided by the London Benchmarking Group (LBG), of which the EDP Group has been a member since 2008. This working group comprises more than a hundred large European companies and aims to measure the return on investments made in benefit of society.
The LBG model, which is adopted voluntarily, provides companies with a more coherent and rigorous way of evaluating how they are promoting development in the community. It also allows the group's shareholders, who donate most of the EDP Foundation's financial resources each year, to confirm the results of their investments in projects undertaken by cultural and social organisations.
All EDP Foundation partners must submit a quarterly report to measure the respective projects' impacts and facilitate their development.