The Lithuanian Olympic Fund was founded on February 27, 1992, by decision of the Executive Committee. It is a memberless non-profit organization – a charity and support fund – which supports the Olympic Movement in Lithuania and programmes of the Lithuanian National Olympic Committee.
The Fund is managed and supervised by the LNOC Executive Committee. The Fund’s activities are organized by its Board approved by the LNOC Executive Committee’s decision, and carried out by the Fund’s employees.
The Lithuanian Olympic Fund’s Board is chaired by the LNOC President Daina Gudzinevičiūtė. The Fund’s director is Mantas Marcinkevičius.
The Fund is financed by sponsors. The Lithuanian Olympic Fund supports the programmes of the Olympic sports federations and the key sport events, the LNOC programmes for training and education of athletes, the treatment and rehabilitation of athletes, coaches, other sport specialists and Olympic veterans, and provides them with other types of social support. The Fund controls the brand mark “LTeam”, organizes the LTeam Winter Festival and the Olympic Day, LTeam Awards, LTeam Conference and other events related to the Olympic Movement.
The brand mark LTeam, created in 2013, represents Lithuania worldwide. LTeam is Lithuania’s Olympic team. Currently LTeam unites members of 41 sports. The best Lithuanian athletes wear the uniforms of this brand when representing Lithuania in major competitions – European and World championships and the Olympic Games.
“Our team is much more recognizable and visible in international arenas when its members are represented by a single brand”, says the Olympic vice champion rower Saulius Ritteris.