The K Foundation was an art foundation set up by Bill Drummond and Jimmy Cauty (The KLF) in 1993, following their 'retirement' from the music industry. The Foundation served as an artistic outlet for the duo's post-retirement KLF income. Between 1993 and 1995, they spent this money in a number of ways, including on a series of Situationist-inspired press adverts and extravagant subversions in the art world, focusing in particular on the Turner Prize. Most notoriously, when their plans to use banknotes as part of a work of art fell through, they burnt a million pounds in cash.
The K Foundation announced a 23 year moratorium on all projects from November 1995. They further indicated that they would not speak about the burning of the million pounds during the period of this moratorium.
Read more about K Foundation: Context, K Foundation Adverts, Turner Prize Subversion, Money: A Major Body of Cash, The K Foundation Burn A Million Quid, Moratorium, K Cera Cera and The Magnificent
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“... in spite of everything, I still believe that people are really good at heart. I simply can’t build up my hopes on a foundation consisting of confusion, misery, and death. I see the world gradually being turned into a wilderness, I hear the ever approaching thunder, which will destroy us too, I can feel the sufferings of millions and yet, if I look up into the heavens, I think that it will all come right, that this cruelty too will end, and that peace and tranquillity will return again.”
—Anne Frank (1929–1945)