In 1998 the Accademia Nazionale di Santa Cecilia became a private foundation. As a result, the Accademia is now able to carry on commercial activities while also receiving private financing. The private entities supporting the Foundation (Founding Members) can also benefit from fiscal advantages provided for by law.
The Italian Republic, the Region of Lazio and the Comune (Municipality) of Rome are statutory members of Accademia Nazionale di Santa Cecilia in that, under the provisions of Article 3, subsection 1 of Government Decree 13 April 1998, no. 134 Transformation into foundations of opera houses and assimilated concert institutions. according to Article 11, subsection 1, letter b) of Law no.39 of 15 March 1997, the Government Authority competent in the matter of performing arts nominates by decree the Board of Directors of the Accademia consisting, in addition to the President, of four members as follows:
- a member nominated by the Government Authority competent in the matter of performing arts (Ministry of Cultural Heritage & Activities);
- a member nominated by the region in which the Foundation has its registered office (Lazio);
- two members nominated by the mayor of the municipality in which the Foundation has its registered office, according to Article 36, subsection 5 of Law no. 142 of 8 June 1990 (Municipality of Rome).