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The Institute, located in Paris, manages approximately 1,000 foundations, as well as museums and châteaux open for visit. It also awards prizes and subsidies, which amounted to a total of €5,028,190.55 for 2002. Most of these prizes are awarded by the Institute on the recommendation of the académies.
The Institut de France was established on 25 October 1795, by the French government.
In 2017, Xavier Darcos was named the Institut de France's chancellor.
The Royal Society of Canada, initiated 1882, was modeled after the Institut de France and the Royal Society of London. The Lebanese Academy of Sciences, known officially by its French name "Académie des Sciences du Liban" (ASL), is broadly fashioned after the French Academy of Sciences, with which it continues to develop joint programs.