The Takis and Louki Nemitsas Foundation is a Charitable Organisation and a not-for-profit institution established in Cyprus and registered as a Philanthropic Foundation on the 25th September 2009, bearing the registration number HE255317.

The Foundation presents the Nemitsas Prizes in accordance with the Foundation’s Memorandum and Articles of Association and Regulations.

The Foundation’s Board of Directors operates without remuneration and selflessly. The Board of Directors manages the Foundation and administers the property which was donated to the Foundation by its founders.

The Academic Council, the Secretary and Coordinator of the Foundation work in the same manner, as do all other committees that may be established.

The Foundation is self-supported and relies on its own funds and financial resources, bestowed by its Founders.

Of course, like every other Foundation, considerable contributions or legacies from organizations, companies and inpiduals are always welcome and accepted with great appreciation and respect.