Ilija M. Kolarac Endowment is a cultural institution of national importance and houses one of the oldest and most distinguished concert halls in Belgrade. The hall is mainly dedicated to concerts of classical music, jazz, ethnomusic and other genres. For 85 years now, the Great Concert Hall of the Kolarac University has echoed with the sounds of the most beautiful symphonies, sonatas and other musical pieces. Numerous world-renowned names in the music arts have performed in the Hall, including Isaac Stern, Yehudi Menuhin, Claudio Abbado, Arthur Rubinstein and Sviatoslav Richter.

The profound importance of this institution is reflected in the events in its Gallery, in which numerous exhibitions are organized featuring mostly young painters. In addition to a wealth of other editions, Aleksandar Belić Bookshop offers a large selection of textbooks for language learning, Serbian language textbooks for foreigners, dictionaries and grammar books. A varied and very popular film screenings are given in Josif Pančić hall.