In a letter of intent signed by Sir Peter Ustinov, Mayor Dr. Michael Häupl and City Councilman Andreas Mailath-Pokorny on June 24th, 2003, it was agreed that the City of Vienna would provide the funds required for setting up the institute. Currently, funding provided by the City of Vienna covers the majority of expenditures for the guest professorship, academic conferences as well as administrative tasks.
For additional projects, such as the handbook on prejudice, the provision of auxiliary means for teaching staff, and the publication of specialized literature, the institute is dependent on funding provided by various sponsors.
The institute is obliged to exercise utter frugality. Conceptual and routinely tasks are performed by the members of the Board and of the Academic Advisory Council. All members of these bodies work on a voluntary basis.
In §4 the statutes provide for “supporting membership” of physical and legal persons wishing to assist the institute by means of a single payment or regular financial contributions. Supporting members have an advisory vote at general meetings.