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The Third Sector has been receiving increasing attention from society, including academics, due to its importance in the face of the lack of government responses to many of the social problems that affect contemporary societies. Theoretically, the State is supposed to highlight the importance of the services provided by Social Solidarity Institutions, given their proximity to the beneficiaries, the efficiency in the distribution of resources and their innovative attitude towards social problems and needs. As a logical consequence, society is witnessing an increase in the participation of the private sector in social issues and a greater professionalisation of the Third Sector in the search for sustainability. Within the Third Sector, Social Solidarity Institutions play a very important role, acting as social actors. Within the environment of Social Solidarity Institutions, the Misericórdias also play a very important role. ‘Misericórdia’ is a non-profit institution that takes a form of charity, very popular in some countries, such as Italy and especially in Portugal. However, there are few studies on the governance conditions of this type of institution. In addition, it is possible to discuss whether there is any study that focuses specifically on this type of analysis. This study fills the empirical gap in the existing literature, providing an insight into the ways of adopting governance practices and principles within these institutions, which over five centuries of existence have continuously worked towards a more just, inclusive and supportive society.