The Foundation was set up purely for reasons of social solidarity. Its aim was to offer homes at minimal rents to Italian residents in Florence whose economic conditions were such that they could not afford to pay for accommodation for themselves or their families at market prices. Set up in 1885, the Foundation manages 1,064 accommodation units located in 28 buildings within the Municipality of Florence.
As a result of the agreement signed with the Ente Cassa di Risparmio di Firenze, the Foundation is able to proceed with works of conservative renovation and improvement to the properties.