The Institut de France is a French learned society, grouping five académies, the most famous of which is the Académie française. The Institute, located in Paris, manages approximately 1,000 foundations, as well as museums and châteaux open for visit. It also awards prizes and subsidies, which amounted to a total of €5,028,190.55 for 2002. Most of these prizes are awarded by the Institute on the recommendation of the académies.