The National Culture and Arts Foundation (henceforth, “the Foundation”) was founded to provide guidance for the holding of cultural and artistic events and to support culture and the arts.
The Foundation shall regularly present the National Award for Arts and shall establish other awards for culture and the arts as well as funding regulations and shall provide culture and arts information and legal consultations.

Sources of the Foundation’s funding shall include:
1. funds from the government budget;
2. interest income;
3. donations from domestic and foreign private and public organizations, groups, and individuals; and
4. other income.
The National Culture and Arts Foundation is exempted from the provisions of Item 5 of Paragraph 3 of Article 19 of the Foundations Act in its use of property and donated property.
Regulations governing the use and supervision of funds shall be drafted by the central supervisory authority.