The Royal Society of London for the Improvement of Natural Knowledge, known simply as the Royal Society, is a learned society for science that was founded in 1660 and is considered by most to be the oldest such society still in existence. Although a voluntary body, it serves as the academy of sciences of the United Kingdom (in which role it receives funding from HM Government). Fellowship, granted for life, is awarded to scientists after their election by existing fellows, and is considered a great honour. Fellows must be citizens of a member of the Commonwealth of Nations or the Republic of Ireland, while the smaller number of Foreign Members are drawn from other countries. The Royal Society is a member organization of the Science Council.