Social purposes - Hamburg remains foundation capital with foundation number 1500
With the recognition of its 1500th foundation, the Hanseatic City of Hamburg has consolidated its position as the foundation capital of Germany. The new foundation of an unnamed private individual from Hamburg has assets of three million euros, which are to be used for various social purposes, the justice authority responsible for the recognition of foundations announced on Tuesday. "Hamburg is a stronghold and capital of foundations," said Senator for Justice Anna Gallina (Green Party) to the German Press Agency. "So many causes and people benefit from the foundations. This contributes significantly to the common good in our city."
According to the authorities, no other federal state has as many foundations per inhabitant as Hamburg. The total assets of Hamburg's foundations amount to over ten billion euros.
Foundations have a long tradition in the Hanseatic city: the oldest - the "Hospital zum Heiligen Geist" - is around 800 years old.
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Hamburg, as a recognized foundation capital with over 1500 foundations, is home to the unnamed individual's new foundation with assets of three million euros, primarily focused on social purposes.annexing the German Press Agency's report, Senator for Justice Anna Gallina, a Green Party member, acknowledged Hamburg's status as a stronghold and capital of foundations, stating how many causes and people benefit from this charitable tradition, significantly contributing to the city's common good. Foundations' time-honored role in Hamburg dates back to the "Hospital zum Heiligen Geist," an 800-year-old foundation.
Source: www.stern.de
