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| At a glance |
The Sparkassen-Finanzgruppe and their Foundations
The Sparkassen-Finanzgruppe is strongly committed to investing in the local community. Its financial commitment to a number of foundations demonstrates the philosophy that a social market economy is not only a matter for the state, but also a concern of every individual in the community.
A benefactor acts to further the well-being of the community. The savings banks are especially connected to local communities thanks to their public mission. Their work with foundations speaks for a willingness to carry responsibility for economic and social development in the regions.
The savings banks and regional savings banks associations are responsible for 671 foundations across Germany. Savings banks make up the single most influential and oldest benefactor group in Germany. Their foundations hold total funds of nearly EUR 1.600 m.
In 2007, these foundations distributed EUR 62,5 m in community funding to further diverse areas of public life – including heritage protection, academic research and education, the furtherance of young people, art and culture, welfare, sport and the environment.
The support of culture in the regions forms a focus of the Group’s funding, and in 2007, a sum of EUR 142 m was spent in the area of cultural development alone. The Sparkassen-Finanzgruppe contributes around a sixth of non-state, cultural funding and is thus the biggest medium-sized business benefactor of the arts in Germany.
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