The purpose of the Kjell Holm Foundation is to support cultural and socially beneficial initiatives in Ålesund. The foundation offers project funds to teams, associations and sole proprietorships, and has a particular focus on initiatives that benefit the local community. In addition to project funds, the foundation awards cultural grants and a cultural award to promote artistic and cultural development.
The foundation invites applications to rounds twice a year, which gives various players the opportunity to apply for funding for their projects. Kjell Holm, after whom the foundation is named, left almost his entire fortune to this foundation, which has contributed to its ability to initiate its own projects and support local initiatives. The focus on the founder's hometown, Ålesund, is a central part of the foundation's work.