Two separate charitable foundations have been formed under the aegis of the Association. The first is the Charitable Foundation for Academic Studies and Impoverished Association Members (Mildtaetige Stiftung zur Foerderung des Hochschulstudiums und zur Unterstuetzung beduerftiger Verbandsmitglieder), which was established in 1957 to support Association members, whether youth in their studies or older persons in need. Three decades later in 1989 the Baltic Corporations Foundation (Stiftung der Baltischen Ritterschaften) was formed to deal with matters both within and exterior to the Association itself. The major part of its financial resources is devoted to assistance for needy Association members. At the same time, it concerns itself with other topics such as religious and social institutions or poverty in the present Baltic states. The Foundation supports continuing education, local Baltic culture, and the search for, conservation and use of historical documents. Both foundations are financially supported through Association members' wills and gifts.