Jacob Gade had stated in his will that he wanted to establish a foundation that would benefit young, talented musicians. As a guideline for the executors of the trust he wrote: I remember to this day the difficulties, both financial and educational, that I faced when as a very young man I came to Copenhagen determined to carve out a career in the world of music. Therefore I am very anxious to ensure that the earnings that will accrue from the assets I leave will be used to ease the lot of the talented young musician so that, once he has demonstrated ability, he will be enabled to study with qualified teachers here and, if necessary, abroad without financial difficulties presenting too much of an obstacle.
The income from Jacob Gades popular music formed the basis of his capital and thus for the Foundation. Since his death on 20th February 1963, Jacob Gades Legat has granted considerable sums every year to talented young Danish (and some non-Danish) musicians. And the royalties continue to come in - first and foremost from Tango Jalousie, but also from Gades other compositions - to the benefit of future recipients.