"For the second year in a row, more was set aside in assets than has been the case for over 10 years," said Anna Gallina, Senator for Justice. Eighteen of the 20 foundations recognised in 2023 were non-profit with a wide range of purposes, including health, the arts and nature conservation. This effort to change things for the better and towards greater sustainability benefits the entire city, Gallina noted.
City among Germany's top spots with over 1,500 foundations - more than EUR 12 billion in assets
Hamburg remains Germany's main foundation centre with more foundations per head than in any other German state. The city's 1,504 foundations hold assets totalling more than EUR 12 billion, the Justice and Consumer Protection Agency reported in mid-January. Twenty new foundations were recognised last year alone.
Hamburg expands its role as foundation centre
Foundations' work a cornerstone of social wellbeing
Unpaid input and involvement in foundations can be found wherever public funds are inadequate. Thus, they are a "cornerstone of social wellbeing in Hamburg", the Hamburg Foundations Agency said on its website. The agency is a collaborative project set up by Hamburg-based foundations to raise visibility of their work. Support for those in need is a major aspect of their work. Providing these people with affordable accommodation is the task that 110 residential homes have taken on – a foundation tradition that dates back to the Hanseatic period of the 13th century. Another example of the need for foundations is museums, the agency notes. The Hamburg Maritime Foundation, for instance, owns the Schaarhörn museum ship.
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