On November 15, 2000, the Museum's owner institutions, the Bilbao City Council, Bizkaia Provincial Council and the Basque Government, (represented by the City Mayor Iñaki Azkuna, Chief Provincial Executive Josu Bergara and the Basque Government's regional Culture Minister Mª Carmen Garmendia) agreed to set up the Bilbao Fine Arts Museum Foundation with a view to promoting and developing the Bilbao Fine Arts Museum as a whole. Included in the Register of Foundations of the Basque Country in virtue of the Decree of 29 March 2001, number F-96, classified according to its expressed aims under Section 3a.
To gather, conserve, study and disseminate the collection of ancient, modern and contemporary art of the Bilbao Fine Arts Museum; to strive to enrich it; to maintain services; and to promote quality activities with the goal of actively contributing to educating society and projecting the values of the Basque Country.
The foundation's governing body is the Board of Trustees, comprising representatives of the Museum's founding institutions – the mayor/mayoress representing the City Council of Bilbao, a provincial deputy representing the Provincial Council of Bizkaia, and the regional minister of culture representing the Basque Government – in addition to other individuals or entities whose significant contributions or academic or technical knowledge of the Museum's activities may benefit the complete achievement of its founding aim. The presidency of the Board of Trustees is annual and alternates between the three founding members.
Mr Juan Mari Aburto Rique, as Mayor of the City Council of Bilbao
Mr Unai Rementeria Maiz, as General Deputy of the Provincial Council of Bizkaia
Mr Bingen Zupiria Gorostidi, as Regional Minister of Culture and Linguistic Policy of the Basque Government
Mr Xabier Sagredo Ormaza, representing BBK Fundazioa
Mr Rafael Pardo Avellaneda, as Director of Fundación BBVA
Mr Rafael Orbegozo Guzmán, representing Iberdrola, S. A.
Mrs Andoni Aldekoa de la Torre, representing Euskal Irrati Telebista
Mr Iñigo Barrenechea Lombardero, representing Diario El Correo, S. A.
Mr Javier Andrés Larrinaga, representing Editorial Iparraguirre, S. A. (Deia)
Mr Eneko Arruebarrena Elizondo, representing Metro Bilbao, S. A.
Mrs Patricia Arias Otero, representing Fundación Banco Santander
Mr Guillermo Barandiarán Olleros, representing Fundación Gondra Barandiarán
Mr Emiliano López Atxurra, representing Petronor, S.A.
Mrs Begoña Marañón Unanue, representing Cadena SER
Mrs Mónica de Oriol de Icaza, representing Fundación Vizcaína Aguirre
In addition, the Board can agree to the appointment as Trustees of individuals or entities that make significant financial, artistic or academic contributions.
Unless otherwise stated by the Board of Trustees, the Executive Committee exercises the functions of management, decision-making, administration and representation of the Foundation, unless these functions legally and irrefutably correspond to the Board of Trustees.
The members of the Executive Committee, in representation of their founding institutions are: the minister of Culture of the Basque Government, the head of the Provincial Government of Bizkaia, and the Mayor of Bilbao; and up to three members who can be designated by the Board of Trustees to represent individuals or entities who are Trustees of the Foundation.