The Cultural Foundation of the President of the Republic is a non-governmental fund (not financed from the State budget), which is currently under establishment. The objective of the Cultural Foundation is to raise financial and other resources from private individuals, institutions, organisations and associations in order to support the Estonian culture and science. President of the Republic has donated his royalties to the Cultural Foundation, and so have the authors of the "Vikerkaar" magazine and some TV programmes. Presumably, most of the funding will come from donations and inheritances.

According to its Statutes, resources of the Cultural Foundation shall be administered by the President of the Republic and the persons appointed by the President. The Council of the Cultural Foundation is also currently under establishment, and two well-known Estonian cultural figures and two prominent businessmen have given their consent to participate in the Council.

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