In 2010, philanthropists Boris and Ināra Teterev established a family charity foundation - The Boris and Ināra Teterev Foundation. Its aim is to support distinguished and socially important charitable initiatives.

The Teterev family supports culture, education, animal care programs, as well as community development organizations in cities and rural areas. The Foundation provides help to groups of people with low income and families at risk. 

In 2011, the Foundation was awarded with a Special Annual Prize for benefactions by the State Inspection For Heritage Protection of the Republic of Latvia, UNESCO National Commission Latvia and the ‘ICOMOS Latvia’.

In 2011, the Foundation was awarded with a diploma for high quality work for a significant contribution to promoting volunteer work in Latvia by the Ministry of Education and Science within the framework of the European Year of Volunteering.