The Portuguese Government released a report evaluating foundations in Portugal which includes the Madeira Social Democrat Foundation. According to the report, between 2008 and 2010, the Foundation recieved no public money, but also did not benefit anyone.
The Foundation was created in 1992, with an initial heritage of 50.000 escudos, which climbed to the value of twelve million, seven hundred thousand and twelve Euros by 2010.
For some time now, the Foundation has stopped paying the scholarships it awarded to students
The big question is who funded and who funds this millionaire Foundation and why?
Although it purports to be a charitable foundation to help students and those in need, much of its purpose is purely political. The foundation owns over fifty buildings which it rents to the Jardim's Party, to use as local party headquarters. It also owns the large landfill sight in the mountains where the PSD holds its annual summer party.
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