The endowment recognizes creative individuals for outstanding achievements and long-term contributions to the development of the field. Each year, the endowment presents one Lifetime Achievement Award, one Grand Award for the field, and six Annual Awards.

Additionally, a special Recognition Award is given for dedication to professional activities that have influenced the development of the field. Awards are granted based on proposals or on the initiative of the endowment itself. Justified proposals must be submitted to the endowment by November 20. More detailed information can be found in the endowment's funding regulations.

The Annual Awards for Visual and Applied Arts are presented each year at the joint gala event of the Cultural Endowment.

The names of the annual award laureates can be found here.