Set up in 2002, Instituto Rio is a no-profit organization operating in Rio de Janeiro’s West Zone, an area of some 47,000 hectares and a population of around three million, making it the biggest and most densely populated part of the city. Instituto Rio is absolutely revolutionary in Brazil today, in that it promotes the development of the local community and a private investment scheme at the same time. The organization receives funds from private sources and various Brazilian and international associations and businesses.
Of the many social projects that Instituto Rio works on, Fondazione Zegna chose to support the Fondo Permanente VPJ, an investment manager run by a committee of experts. Every year its profits are channeled into the Instituto’s projects, including Orquestra Sinfônica Jovem de Campo Grande, which aims to develop the musical sensibility of the local community’s young.
Fondazione Zegna’s support has made it possible to immediately implement a social/cultural program – in the true spirit of the Instituto Rio – and at the same time lay foundations for future projects thanks to the Fondo Permanente, thus helping to foster a new concept of philanthropy.