Saxony was enriched by 18 new foundations last year. The commitment continues this year. On Thursday, a foundation set up by businessman Fritz Albert Straub received its certificate. It bears the name Areopagus - named after an ancient site in Athens - and primarily aims to promote art, culture and the preservation of cultural heritage. It is also committed to tolerance and international understanding. Another focus is on the promotion of democracy, education and training, it said.
Patronage sends a strong signal in times of change
According to Regina Kraushaar, Saxony's Minister of State for Infrastructure and Regional Development, patronage of this kind is "a very strong signal to the people of the Free State, especially in times of change". Straub is a great person and a committed entrepreneur. "The fact that he has now - after the end of his active career - become a founder seems to me to be a logical step."
Head of the authorities recognizes the contribution of foundations to the common good
"Especially in economically challenging times, foundations make an indispensable contribution to the common good. With their long-term and independent work, they strengthen social cohesion and promote innovation in the social and cultural sector," emphasized Béla Bélafi, President of the State Directorate of Saxony (LDS). Foundations would replace government action where new impetus and sustainable solutions are needed.
The LDS is responsible for recognizing foundations. It also monitors whether a foundation acts in accordance with its purpose and whether its assets are preserved. A foundation uses capital for its work, for example from interest or dividends. Charitable foundations must serve the common good. The purpose of such foundations is usually to promote art, culture, education and upbringing. Many foundations also pursue multiple purposes.
