The constitution of the restructured foundation was drawn up on 28 November 2011, and the city's financial and legal participation was agreed at a council meeting on 18 July 2012.
Acceptance of the new arrangements by the German Foundations Supervisory authority [de] followed on 28 August 2012.
[3] According to its constitution, The foundation objectives are focused, in particular, on international research and nurture concerning the artistic and societal inheritance bequeathed by the composer and director of the Gewandhaus Orchestra ("Gewandhauskapellmeister"), Felix Mendelssohn (1809–1847).
[4] The first prize winner, in 2007, of the International Mendelssohn Prize in Leipzig was the conductor Kurt Masur, one of Mendelssohn's successors as chief conductor ("Gewandhauskapellmeister") of the Leipzig Gewandhaus Orchestra.
[5] The chairman of the supervisory board is Burkhard Jung, the lord mayor of Leipzig.