Hamburg now bastion of foundations and adding ever more

30 January 2023

32 new foundations in 2022 - assets increased by EUR 91 million

A total of 32 new foundations including 30 charitable ones were officially recognized by Hamburg's Ministry for Justice last year, a press release said Friday (January 20, 2023). The latter contributed EUR 91 million to assets. The new foundations focus on science and research, social issues as well as environmental protection, nature conservation and sports.

Investments and foundations

"Last year, more money was invested in new foundations than at any time since 2008. At the same time, more new charitable foundations were established than at any time since 2015," sid Anna Gallina, Senator for Justice. Hamburg can take pride in the commitment of founders as they contribute to the common good in the city, which boosts talks and cohesion, she noted.

1,490 foundations - over EUR 11 billion in endowment assets

Hamburg is now home to more than 1,490 foundations with assets of over EUR 11 billion. The 800-year-old Hospital zum Heiligen Geist is the oldest foundation in Hamburg. The ministry has also set up a section for all issues related to foundations and offers free advice on setting up and managing a foundation.

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