8.1.2 Special artists funds
In addition to support granted by art institutions or project funding obtained via competition, the main channels of support for artists is via the Public Interest Limited Company for Hungarian Creative Art (Magyar Alkotóművészeti Közhasznú Nonprofit Kft) which in 2011 inherited the property and part of the social and artistic functions of the Hungarian Public Foundation for Creative Art. The company offers artists residencies, studios, exhibition facilities etc. The Hungarian Soros Foundation used to be the most significant of all private foundations supporting culture. However, 2003 was the last year when the Foundation funded cultural activities in Hungary.
Several local governments have set up foundations for supporting local artistic activities and artists living in their area. The number of foundations established by the heirs of artists for supporting young talent is also significant.