The foundation aims to promote, through the awarding of scholarships or otherwise, young residents of Lugano who distinguish themselves through diligence and profit and who intend to pursue higher education. By higher education, it is meant not only those related to academies and universities, but also those beyond compulsory schooling (such as: high schools, Higher Pedagogical School, Cantonal School of Commerce, Higher Specialized School of Technology, Higher Specialized School of Fashion Technology or, in any case, future equivalent or analogous institutions). It remains the faculty of the Municipality to ask the competent authority to adapt the foundation, should circumstances change or the capital prove inadequate. The Board of Directors issues an internal regulation with detailed rules regarding the specific activity and functioning of the Foundation, as well as the modalities concerning the interventions and assignments provided for by the purpose. The Foundation pursues objectives of public utility and therefore operates without profit.