The Possehl Foundation shapes the Lübeck community beyond mere funding commitments. As a member of the European Hansemuseum as well as the TheaterFigurenMuseum Lübeck and the Figurentheater Lübeck it is responsible for a wide range of cultural activities in the Hanseatic City. The new construction of Kunsthalle St. Annen in 2003 also created spaces for modern art in Lübeck, which the Foundation then left to the Hanseatic City of Lübeck. Since 2018, two new Possehl Art Prizes have also been focusing on contemporary artists.
Since the promotion of young talent was particularly dear to our founder's heart, every year the Foundation honors students of the University of Music and the Technical University of Lübeck for special achievements.