The Foundation was formed on 5 May 2006 by María Cristina Masaveu Peterson via a Public Deed signed before the Notary Public of Oviedo, Luis Alfonso Tejuca Pendás, under notary record number 1814.

With great generosity, María Cristina Masaveu Peterson provided the Foundation with endowment assets which, based on a management that is subject to the principles of responsibility, optimisation and discretion, enables it to maintain its equity balance and finance all of its activities and projects independently, without receiving any type of public or private funds or subsidies.

The Foundation was authorised and registered in the Foundations Registry of the Ministry of Culture by virtue of Order 2373/2006, of 30 June, under record number 714.

Since then the Foundation is based in Madrid and, in collaboration with other management offices in different areas of Spain, it effectuates the goals for which it was created.

In accordance with its Statutes, and on a non-profit basis, the Foundation’s goals are as follows:

• The promotion, dissemination, conservation, recovery and restoration of Spain’s Historical Heritage, Music and Art in general.
• The professional training of young workers, ensuring comprehensive, human and professional education.
• Scientific research, with particular focus on the technological development of the cement manufacturing industry and its subsequent applications.

In compliance with the aforementioned objectives, the Foundation carries out its activities in accordance with the law, its statutory rules and the principles of effectiveness, planning, independence, transparency, accountability and resource optimisation, in order to obtain the best result for the society and for the beneficiaries of its activities and projects.

María Cristina Masaveu Peterson created the Foundation and explains the reasons that led her to do that when she writes:

That it is her intention to create this foundation to maintain tradition in the good governance of the “Masaveu House”, and to seek stability for that Business Group, formed by the descendants of Pedro Masaveu Rovira, a group of companies that have been creating jobs and wealth in the areas where they operate since 1840, as well as honour, maintain and continue the cultural and entrepreneurial work of her deceased and beloved father, Pedro Masaveu y Masaveu, great patron of everything related to the arts, music, literature and conservation of the cultural heritage that previous generations have bequeathed to us.

She remembers her late brother Pedro Masaveu Peterson, guarantor of these values ​​during his presidency of this group, and creator of an art collection now owned by public institutions, as well as her late cousin, Elías Masaveu Alonso del Campo, close collaborator in maintaining the business activity and cultural spirit of the “House”.

She, continuing with this spirit throughout her life, wishes it to be her nephew and son of Elías Masaveu Alonso del Campo, Fernando María Masaveu Herrero, who continues this work at the head of this foundation, and for this to be the extension of the benefactor activity and that, for that purpose, it has its own means, as far as they reach, and collaborates with public or private institutions that share those aims.