Yearly, the council administers over 260 million euros to Finnish research activities.

It may also be bestowed on foreign scientists, scholars or artists who have contributed very significantly to Finnish intellectual life.

The Academicians do not have any organizational connection to the Academy of Finland, although this was the requisite for membership in 1947–1969.

Minna Canth Academy Professor focuses on Social equality and Women's studies.

Martti Ahtisaari Academy Professor focuses on International Conflict management.