The Wiesbaden Foundation was established in 2003 as a legally valid and non-profit community foundation. The purpose of the foundation is to promote the city's history, science and research, education, training and sport, art and culture as well as international understanding, environmental protection and nature conservation, landscape and monument preservation, youth and elderly care, healthcare and traditional customs in Wiesbaden.

The Wiesbaden Foundation sees itself as an element of self-determined citizenship and is politically, economically and denominationally independent. It consists of the Founders' Meeting, which decides on the business plan and the annual financial statements as well as the election of some of the members of the Board of Trustees, the Board of Directors and a Board of Trustees. The latter has the task of appointing the members of the Executive Board, monitoring the management of the Executive Board and determining the general work program in agreement with the Executive Board. Born members of the board are one representative each of the city and the Friends of the Wiesbaden Foundation.

Since 2003, the foundation has developed extremely successfully. Of the many activities, the Leonardo School Award competition stands out in particular.