Saxony was enriched by 18 new foundations last year. The commitment continues this year. On Wednesday, a foundation set up by businessman Fritz Albert Straub was to receive 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.
The State Directorate of Saxony (LDS) is responsible for recognizing foundations. It also monitors whether a foundation acts in accordance with its purpose and whether the assets are preserved. A foundation uses capital for its work, for example from interest or dividends. Charitable foundations must serve the common good. The most common purpose of such foundations in Saxony is the promotion of art, culture, education and upbringing. Many foundations also pursue several purposes. Monument protection and preservation is a frequent goal, especially in the Dresden area.
