The foundation

In 1992, the original project at North Cape was transformed into an independent, non-government and non-profit foundation (The Children of the Earth Foundation), approved and recorded by the national Foundation registry . All records and accounts are fully audited and public. The foundation has no administrative expenses. The costs in connection with the award ceremonies are covered through contributions from Nordkaps Vel, which has income from the tourist traffic at North Cape .

The foundation's basic fund currently stands at about 1 million Norwegian kroner (about 125.000 euro or 165.000 US dollars) in the form of bank deposits. The annual yield, in combination with contributions from Nordkaps Vel, has so far constituted the annual prize of 100.000 Norwegian kroner, from 2010 increased to 150.000 kroner. One of the aims of the foundation is to increase the basic fund, so that the prize amount may grow even further, and to a larger extent be covered by the yield of the fund.