The Foundation currently receives funding only from the annual charity Gala which is supported by the local corporate community. Whenever possible, FAVA seeks to fund projects in partnership with other foundations and institutions such as the Alfred Toepfer Fellowship for Culutral Innovation of Hamburg, Germany and the Albanian American Cultural Fund of New York.

The Foundation has been audited on a pro-bono basis by the independent auditor KPMG. From 2004 - 2007 a total of $324,975 has been raised to support the arts in Albania. 100% of these funds have been allocated to support the National Gallery and FAVA sponsored projects, or remains in the FAVA account. No salaries or fees are paid to administer the Foundation.

Proposal Guidelines:  Proposals for funding submissions are only accepted annually in the months of October and March. Proposals submitted at any other time will not be considered. The Foundation prefers to fund projects that involve artist collaboration rather than individual exhibitions. In a one paged proposal for funding, the following questions must be addressed:

1. Description of the project
2. What is the purpose of the project?
3. Why is the project important and who will benefit?
4. Budget outline
5. Date of proposed project
6. Curriculum vitae of artist