CFO was launched in the summer of 2006 for the next purposes:
- Provide humanitarian aid and assistance to the orphanages in the US and other parts of the world, as well as to raise funds for ill children requiring special medical treatment or surgeries.
- Provide support, including financial, to talented children in the spheres of arts and sports.
- Create children learning centers in the spheres of arts, ballet, and music.
- Organizing fundraising events, such as charitable auctions, charitable raffle events, exhibitions, and concerts