The legal act establishes the Cultural Endowment of Estonia as a legal person in public law, the objective of the activities of which is to support the arts, folk culture, physical fitness and sport and the construction and renovation of cultural buildings by the purposeful accumulation of funds and distribution thereof for specific purposes. Grants of the Cultural Endowment for individuals are equivalent to state grants.
The specific functions of the Cultural Endowment are to: support projects which promote, introduce and popularise the arts and sport, artistic associations, research related to culture and sport, and to further the development of the arts, folk culture, physical fitness and sport; support outstanding figures in the arts and sport, and their families upon their death; support talented persons with development potential in various areas of culture and sport and to facilitate their individual development; support the commemoration of deceased figures in the arts and sport; support the construction and renovation of cultural buildings which are of national importance.
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