The LEUCOREA Foundation was established by decree of the government of the State of Saxony-Anhalt on 26 April 1994. The primary legal basis for its work is constituted by its statute.

The statute primarily regulates the aim of the foundation, its organisation and the use of its capital. The Foundation’s capital mainly consists of the Fridericianum buildings, which directly fulfil the aims of the Foundation. Other properties in the vicinity of Wittenberg, which earlier belonged to the benefices of the Wittenberg University, were transferred to the LEUCOREA upon establishment of the Foundation. These properties are leased for agricultural use and the modest profits contribute to financing the responsibilities of the Foundation. The current budget of the Foundation is funded equally by its own earnings and by budgetary resources from the region of Saxony-Anhalt. The LEUCOREA is under the supervisory authority of the Ministry of Science (Ministerium für Wissenschaft, Energie, Klimaschutz und Umwelt).