Annual Report 2019 Annual Report 2019 Table of Introduction Calouste Gulbenkian Museum Management Activities Contents Message from the President 67 Audit and Risk Management 06 Gulbenkian Music 160 The Foundation and the Founder 78 Compliance 10 Gulbenkian Culture 162 Internal Organisation 88 Sustainable Gulbenkian 13 164 Social Development 2019 in Numbers and Sustainability Activities Quality 166 14 Active Citizens Digital Transformation 98 168 Social Cohesion and Integration Activities 105 Board of Trustees Armenian Communities 18 Financial Statements 116 Management Report Partnerships for Development Scientific and Knowledge 174 120 Activities Audit Committee Report Sustainability Gulbenkian Scholarships 242 130 28 Report and Opinion of the Statutory Auditor Knowledge Delegations 247 32 Delegation in France Future Forum 138 Partnerships 40 United Kingdom Branch 252 Instituto Gulbenkian de Ciência 142 Composition of the Board of Trustees 45 and Respective Committees 150th Anniversary 255 of the Birth of Calouste Sarkis Artistic and Cultural Activities Gulbenkian Heads of Departments, Programmes Educational Activities – Descobrir and Initiatives 148 52 256 Art Library and Archives Human Resources Useful Information 60 156 259 2 / Annual Report 2019 Calouste Gulbenkian Foundation / 3 Introduction 4 / Annual Report 2019 Calouste Gulbenkian Foundation / 5 © CGF / Ricardo Oliveira Alves Message from the President I would like to start by pointing out some events that decisively marked 2019, namely: the 150th the responsibility of contributing to the development of the community in the four areas that anniversary of the birth of Calouste Sarkis Gulbenkian; the agreement to sell the Foundation’s Gulbenkian statutorily defined in his will: Art, Science, Education and Charity. stakes in Partex; the announcement of the newly-created Gulbenkian Prize for Humanity; and Secondly, 2019 was the year when, following the previously announced decision to divest the selection of the project by architect Kengo Kuma and landscape designer Vladimir Djurovic its fossil fuel investment, the Calouste Gulbenkian Foundation entered into an agreement for the expansion of the Gulbenkian Garden and, therefore, its wider opening to the city. to sell its stake in Partex with PTT Exploration and Production, a Thai oil exploration and Firstly, in 2019, the Foundation celebrated the 150th anniversary of the birth of Calouste Sarkis production company. This transaction marks a reconfiguration of the Foundation’s asset Gulbenkian, the Armenian billionaire, collector and philanthropist to whom we owe our institu- base, which thus becomes invested with the primary purpose of obtaining attractive long- tion. All year round, through multiple initiatives, we had the opportunity to learn more about the term returns, under a reorganisation that will reinforce the diversity of its investments and different dimensions of this striking twentieth-century personality. Calouste Sarkis Gulbenkian’s its social impact, in line with the vision of a sustainable future that it shares with other major main legacy, which he left to all Humanity, was the Foundation where we work every day to fulfil international foundations. 6 / Annual Report 2019 Calouste Gulbenkian Foundation / 7 Message from the President Thirdly, following the decision to divest in oil and gas, and to align the Founda- project and the reinforcement of the Foundation’s internationalisation, particularly tion’s investment with a new world agenda and a strong vision of future, we decid- in what concerns its active participation in networks, partnerships and projects. ed to create the Gulbenkian Prize for Humanity, which is worth one million Euros Finally, the year 2019 was very positive for the Foundation’s investments, mainly and will be awarded on an annual basis. Its goal is to encourage the emergence of due to the effect of the excellent return on the securities portfolio, but also due to the new ideas that contribute to improving the future of Humanity. In its first edition, positive outcome achieved with the sale of Partex, which enabled a very significant which will take place in 2020, the Prize will be dedicated to Climate Change, as it increase in the Foundation’s capital last year and which will certainly correspond to is deemed the greatest challenge facing Humanity and the one that requires urgent some of the Foundation’s best results. joint action. This Report intends to show, in a simple and immediate way, the wide range Fourth, the project for the expansion of the Gulbenkian Garden was approved. of projects and initiatives that were promoted and developed by the Calouste With full respect for the garden and the existing buildings, the selected proposal, Gulbenkian Foundation throughout the year, with the aim of discovering and submitted by the team led by architect Kengo Kuma, associated with the landscape increasingly preparing the citizens of the future. architect Vladimir Djurovic, stands out for the construction of two panels next to the southern façade of the Modern Collection’s building, in a contained and Con- We prepared this report before the pandemic that the world is currently experi- temporary intervention. In addition to creating a new venue for enjoyment and encing and which inevitably had a widespread impact on the Calouste Gulbenkian contemplation, this architectural piece serves as a transitional element between the Foundation’s programming, with a special focus on our services and the activities new garden plot and the building, reinforcing the original concept of a permanent open to the public. relationship between the two. The solution proposed by Kuma also enables the cre- To strengthen society’s resilience in the Foundation’s main areas of intervention ation of an additional exhibition space in the Modern Collection. With this project, – Health, Science, Civil Society, Education and Culture – the Board of Trustees the Calouste Gulbenkian Foundation will reunite the former Santa Gertrudes Park, set up an Emergency Fund with an initial allocation of 5 million Euros. At a time permanently opening it to the city. of exceptional gravity, the Calouste Gulbenkian Foundation, doing justice to its I would also like to point out that the Calouste Gulbenkian Foundation participat- mission, reinforced its activity by contributing to the fight against a pandemic that ed in the creation of the first impact fund in Portugal – MAZE Mustard Seed, and led challenges society as we have always known it. its investor group (which includes the European Investment Fund, AGEAS, Atlantic Europe and BMW Asset Management, among a number of other pioneering impact Isabel Mota investing entities). With a significant commitment of 30 million Euros, the fund will President of the Calouste Gulbenkian Foundation invest in impact start-ups in Portugal and Europe that use sustainable technology and business models for solving social and environmental problems. The year 2019 was also a moment of transition for the Foundation’s Delegation in France, whose intervention will also be distributive from 2020 onwards, with a special focus on promoting Portuguese arts in that Country. This transition implies a change of its current facilities, and the works in the Maison du Portugal have already been completed, namely the place where the Library will be installed. The office relocation is to be completed in early 2020. It is also important to mention, as structuring elements of our work throughout the year, the renewal of the Foundation’s young staff, the digital transformation 8 / Annual Report 2019 Calouste Gulbenkian Foundation / 9 The Foundation and the Founder The Foundation and the Founder The Calouste Gulbenkian Foundation, created by testamentary provision of Calouste Sarkis Gulbenkian, is a Portuguese institution of private law and general public utility, whose statutory purposes, approved by the Portuguese State on 18 July 1956, are charity, art, education and science. It is one of the most important European foundations, both for the resources it owns and manages, and for the transformative impact it has on society, developing its work in Portugal and throughout the world, through direct and distributive activities, perfectly articulated by a vision and a common mission: to contribute to the construction of a more just, inclusive and sustainable society in which citizens live and participate, freely and consciously, with equal opportunities. Headquartered in Lisbon, the Foundation has a Museum, which houses the Founder’s private collection and a collection of modern and contemporary art; an Orchestra and a Choir; an Art and Archive Library; a significant number of auditoriums, concert and congress halls; a Delegation in the United Kingdom and another in France; a Scientific Research Institute, and a Garden, a unique space in the city of Lisbon in which educational, cultural and artistic activities also take Calouste Sarkis Gulbenkian place. at age 80 in Les enclos. © DR Together with these cultural activities, the Foundation also fulfils its mission through innovative programmes, which not only create and develop pilot projects, but also support, through scholarships and grants, different institutions and social organisations, focused on the three priority areas strategically defined for the period 2018-2022 – cohesion and social integration, Calouste Sarkis Gulbenkian was born on 23 March 1869, in Üsküdar, Istanbul, sustainability, and knowledge – which are reflected across the whole of its intervention.