Alferenko established the Foundation for Social Inventions at the Komsomolskaya Pravda newspaper, as a readers' voluntary association.
An easy to remember all-Union bank account number 708 was established to enable financial and material contributions.
For example, 9.7 million rubles were collected for the "Duty" (Dolg) project to build a center for physical and social rehabilitation for veterans of the Afghanistan war.
During the course of the program, over 10.000 young unemployed people had been sent for 4–6-week internships in the United States for developing entrepreneurial skills and gaining experience.
FSI, with a structure designed to create self-propagating communities of support for entrepreneurs and innovators, had a unique mandate to launch new organizations under its auspices, and used it to establish and provide organizational and financial support to over 300 non-governmental organizations, including the Union of Chernobyl Liquidators, the Folk Warriors Association of Social Programmes, which focused on helping miners and their families, the Russian Union of Afghanistan Veterans, the Flight Safety Foundation International,[4] Stas Namin Centre, and Interfax.