# Foundation

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RARI DAO is represented IRL (in real life) by the RARI Foundation, which is a Cayman Islands legal entity. It allows the RARI DAO to have a formal representation, enter into contractual relationships, and utilize the other benefits and protections of a legal entity.&#x20;

The Rari Foundation is here to help this ecosystem grow and to aid the community in achieving its mission of unlocking and powering new NFT use cases.

The RARI DAO can vote to nominate, appoint and remove directors of the RARI Foundation (the Board). The purpose of the Board is to administer DAO proposals and serve the vision of the community, not as its leaders but as its enablers.

Key documents:

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#### Budget

The RARI Foundation is funded from Operational Budgets approved by the DAO community. These budgets ensure the continuity of operations and that the Foundation meets its obligations.&#x20;

Reports on budget spending are issued quarterly, within 30 days of the end of a quarter cycle.\
