The Eduard Rhein Foundation is an academically and politically independent, non-profit foundation administered according to civil law. Its exclusive interest is to present direct monetary rewards to individuals for achievements promoting the public welfare. Its activities are not limited to the Federal Republic of Germany.

The Foundation currently has assets of EURO 9 million. The real value of these assets is maintained by yearly reinvestment of the appropriate proportion of the profits as stipulated by the Statutes.

The amount of the funds available for awards is dependent upon the net proceeds of the preceding business year. The Foundation intends to confer annual awards averaging EURO 150,000. Thus, the Eduard Rhein Award is the largest technology award of its kind in Europe.

In accordance with the natural subdivision of the subject matter, the Technology Award for radio, television and information technology may be split into a basic research award and an award for specific technological developments, but the division is not obligatory.

The Cultural Award for outstanding artistic and/or journalistic achievement or for publications is limited by the Statutes to 25 % of the total amount allocated for all awards in the year concerned.

The individual awards may be split among selected recipients. Since 1990, however, in accordance with the wishes of the founder, not more than two, or in exceptional cases three, Technology or Cultural Awards have been granted.

If in a given year the Curators and Executive Board decide that the achievements then under consideration do not warrant grants, the funds earmarked for that year will be carried forward to the next year.

Award recipients have no legal claim to a specific monetary grant. After hearing the suggestions of the Curators or Evaluation Committee, the Executive Board decides upon the distribution of the funds. It is not bound by such suggestions, however, and its decision is final.

The recipients may use the funds as they wish; they have no obligations to the Foundation. In particular, they need not use the funds for further work in the area of their award-winning achievements.