The Mikhail Chemiakin Foundation was established in 2002 to promote cultural and academic programs. The Foundation aims to support the art of Russia, organize cultural exchange with other countries and aid young aritsts, photographers and musicians.

The Foundation’s exhibition projects are based on the work of “Mikhail Chemiakin's Musee Imaginaire”. The Foundation conducts educational programs, providing access to the unique visual materials in Chemiakin's collection – images culled from catalogues, books, illustrations, and photographs of museum and private collections. The Foundation has hosted exhibits dedicated to «The Sphere in Art”, “Images of Death in Art”, “Cries in Art”, “Monsters and Mythological Creatures”, “The Hand in Art”.

An important component of each of these exhibitions is the organization of an open international competition and the inclusion in the exhibition of original works by contemporary artists, selected from submissions to the competition.