On June 9, 2011, Their Royal Highnesses Prince Felipe and Princess Letizia of Asturias held a meeting at El Pardo Palace in Madrid, Spain with the Board of Trustees from the Principe de Asturias Foundation.
According to the official website for the royal house of Spain, Casa de Su Majestad El Rey:
The Principe de Asturias Foundation was incorporated on September 24, 1980 in Oviedo, in a ceremony presided over by His Royal Highness the Prince of Asturias, who was accompanied by Their Majesties. Its primary objectives are to strengthen the links between the Principality and the Prince of Asturias, and contribute to the glorification and promotion of those values scientific, cultural and humanistic values universal heritage.
His Royal Highness The Prince of Asturias boasts its honorary president, while the vice president of honor is occupied by the President of the Principality of Asturias. Every year since 1981, grants the Prince of Asturias Award for distinguished scientific, technical, cultural, social and humanistic work performed by individuals, groups or institutions working internationally in the following eight categories: Communication and Humanities Social Sciences, Arts, Literature, Technical and Scientific Research, International Cooperation, Harmony and Sports.
As an entity totally private and nonprofit, the institution thrives on income from their assets and grants and donations they make every year, both members of their boards, as individuals or organizations that collaborate with it regular or circumstantially.
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