ERSTE Foundation traces its origins to October 1819, when Vienna citizens established the Erste österreichische Spar-Casse, one of Europe's first inclusive financial institutions designed to make prosperity accessible beyond the ruling class. After undergoing structural changes in the 1990s, the foundation took its present form in December 2003, evolving from a holding company into an operative charitable organisation. Today, it serves as the core shareholder of Erste Group, one of Central Europe's largest retail banks.
Operating across Austria, Central Europe, and Southeast Europe, ERSTE Foundation invests dividend income from its shareholding into social development projects. Since 2005, it has supported or implemented over 2,200 initiatives, spending more than 148 million euros through 2023. The foundation employs approximately 30 staff members representing six nationalities.
The organisation concentrates on three interconnected priorities: financial health for marginalised populations, democratic values and civil society strengthening, and contemporary culture. Its Zweite Sparkasse project targets individuals rebuilding their financial stability, while the NGO Academy provides management training for nonprofit leaders. The foundation also established Erste Financial Life Park to deliver financial education programmes.
In its cultural dimension, ERSTE Foundation supports contemporary visual arts addressing societal challenges across the region. The foundation publishes a bilingual online magazine featuring civil society perspectives from Central and Eastern Europe and hosts the transnational artist-in-residence programme at Vienna's MuseumsQuartier. Through the Europe's Futures initiative, it convenes European thought leaders to address migration, democratic governance, and regional integration.