In 2001 Mikhail Khodorkovsky and several other Yukos shareholders set up and funded the Open Russia foundation to foster and nurture the development of civil society and encourage education. Its mission statement described the foundation's ambition as "Leading the way for Corporate Philanthropy" in the new Russia. During its short existence the foundation supported projects ranging from charities to the Regional Journalism Club and Inter-regional Association of Village Libraries; from well-established bodies such as Memorial or the Glasnost Defence Foundation to small new NGOs and one-off initiatives in Russia's far-flung cities and towns. Open Russia effectively came to an end in August 2006 when it had to suspend all activities due to the freezing of its accounts by the Russian authorities.