Dr. Rayko Chochev Charitable Fund to the St.Cyril and St. Methodius International Foundation is founded after a Donation Act of September 13, 1993. According to this document the management of the 10,000 DEM endowment is entrusted to the Executive Board of the Foundation. The annual expenditure of the Fund is equal to the income from investments of this capital fund.
The main objective of the Fund is to stimulate the excellent graduates of the "Nesho Bonchev" High School in the town of Panagiurishte. The students awarded are selected by a special Committee: the Pedagogic Council of the School, the Mayor, and a representative of the Cyril and Methodius Foundation.