The Economic Report of the year 2000 of the President of the Republic’s Cultural Foundation

On February 19, the President of the Republic's Cultural Foundation (hereinafter the Foundation) convened to approve the financial results of the year 2000.
In total, the Foundation received donations in the amount of 1,032,200 kroons in the year 2000, other revenues were 32,660 kroons. Of the donations, nearly 830,000 kroons came from businesses and private individuals. The greatest supporters were Hansapank, Eesti Ehitus, Eesti Energia, Silberauto, Merko Ehitus, Tallinna Kaubamaja, Tallinna Sadam, Baltika, Haapsalu Uksetehas and Eesti Põlevkivi.
The Foundation issued various scholarships and grants in the amount of 770,701 kroons.
The largest project was the organisation of the exhibition ''Estonian Art at the Turn of the Millennium'' in Tallinn and in Berlin, and the publication of the exhibition catalogue. All in all, 412,342 kroons were allocated to the project. In addition, the publication of several books, restoration of churches, performances of children's theatres, research work and many other projects were supported.
In autumn 2000, the Foundation announced the first two scholarship competitions, and in December, the receiver of the Pytheas scholarship was chosen from among five and the receiver of the Young Scientist Award from among 54 candidates.

As the Foundation does not have any employees, the running costs can be kept on the minimum level and the donated sums can almost in full amount be used for supporting various projects and individuals.
President of the Republic's Cultural Foundation is a non-state-budget-financed foundation initiated by President Lennart Meri; the foundation concentrates donations from individuals, enterprises, organisations and unions to support cultural, educational and research activities in Estonia. The Cultural Foundation was entered into the Business Register on February 14, 2000.
The activities of the Cultural Foundation are planned and co-ordinated by the Board consisting of the Chairman Indrek Neivelt and members Toomas Luman, Ain Kaalep, Olev Subbi and Toomas Kiho. The regular activities of the Foundation are co-ordinated by Andrus Alber, the Economic Adviser of the President.

Press Service of the Office of the President
Kadriorg, February 20, 2001