The LEUCOREA Foundation was established by decision of the regional parliament (26. April, 1994). Its statute constitutes the most important legal foundation for its work.

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 and Economy.