The idea to set up a Solidarity Foundation for gymnasts dates back to 1999-2000. President Bruno Grandi was then also chairing the Italian Federation which already had a similar system in place (type of insurance) to help gymnasts reaching the end of their careers.
In Switzerland, the "Hans Schachenmann" Foundation was created in 1962 by a generous donor in favour of gymnasts victims of illnesses or accidents. President Grandi and the then Secretary General Norbert Bueche relied on this Foundation to draw up a project made up for FIG. Their project was submitted to and approved by the EC. At the 2000 FIG Congress in Marrakech, it was decided that the sum of CHF 2,000,000.- would be transferred from the FIG assets to the Foundation to set up the equity capital. A second instalment of CHF 1,000,000.- was then paid by FIG to the Foundation in 2012. The Foundation Deed was signed on June 7, 2002.
The aims of the Foundation are provided for under Art. 2 of the Foundation Deed. In short :
Aid is provided through equity capital interests only.
The Foundation mainly provided some aid to gymnasts victims of accidents at gymnastics competitions or training sessions. Unfortunately, serious accidents occurred such as falls resulting in paralysis.
Several developing Federations were supplied with apparatus or floors.
The Foundation Board is also in charge of the scholarships allocated to young promising gymnasts for all Olympic disciplines and on all continents.
You can read the "FIG Foundation for Solidarity - A Tribute to Bruno Grandi" brochure here below.