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Founded in 1937, The Guggenheim Foundation has the most international outlook of all New York City's great cultural institutions. The foundation's mandate is to preserve art and educate the public, and, over the past seven decades, it has amassed a premier collection of modern and contemporary art. The Guggenheim Foundation currently owns and operates three museums: the Guggenheim Museum on Fifth Avenue, New York City; the Peggy Guggenheim Collection on the Grand Canal in Venice, Italy; and the Guggenheim Hermitage Museum in Las Vegas. The foundation also provides programming and management for two other museums in Europe that bear its name, the Guggenheim Museum Bilbao, and the Deutsche Guggenheim, in Berlin. Through a unique alliance agreement, the Guggenheim Foundation shares its collections and collaborates on programming with the State Hermitage Museum in St. Petersburg and the Kunshistorisches Museum in Vienna.