The OLYMP'ARTS Development Foundation provides support and assistance for the OLYMP'ARTS development plan, protects the OLYMP'ARTS heritage, supports the OLYMP’ARTS, and promotes art-related public welfare actions. It discovers creative artistic forces, establishes OLYMP'ARTS standards, promotes the development of contemporary art/digital art and art education, and selects future outstanding artists.
The establishment procedure of the OLYMP'ARTS Foundation is formulated by the World Olymp’Arts Council Executive Board and approved by the Board of Directors of the World Olymp’Arts Council. The funding for the foundation comes from the World Olymp’Arts Council and individuals, organizations, foundations, etc., that support art worldwide.
The objectives of the OLYMP'ARTS Development Foundation are:
· Promote and develop "OLYMP'ARTS" as a basic principle
· Fund outstanding artists to achieve the goals of "OLYMP'ARTS"
· Establish scholarships to encourage and support the personal development of artists
· Expand the professional knowledge of artists and train art management talents
· Cooperate with various non-governmental organizations with common development goals, primarily through education and activities to promote "OLYMP'ARTS"
· Collaborate with official international organizations of various countries to create simple, practical, and economical art facilities when needed
· Support and sponsor art competitions and art projects authorized by the World Olymp’Arts Council in countries or regions
· Encourage the OLYMP'ARTS Organizing Committee to carry out multilateral cooperation programs
· Support the United Nations Children's Fund charity program
· Support the establishment of youth art fund plans
· Support the development plans of artists and art forms in impoverished areas