Mellon Foundation Launches New Art Museum Futures Fund to Distribute Tens of Millions to Art Museums Nationwide
New York, September 17, 2020 — As part its emergency grantmaking in the face of the global COVID-19 crisis, The Andrew W. Mellon Foundation announced today the launch of a new Art Museum Futures Fund — an emergency grant program starting with nearly $24 million to be distributed to 12 midsized art museums across the nation.
With the pandemic raging across America, arts and cultural institutions are particularly vulnerable to the extraordinary financial fallout and face potentially permanent closures as a result. This new emergency grant from the Mellon Foundation is aimed squarely at supporting those organizations with immediate funding as they adapt to unprecedented financial obstacles posed by this worldwide health crisis. With awards ranging from $600,000 to $5.5 million, the Art Museum Futures Fund will enable institution leaders to stabilize their organizations while preparing for reopenings.
In early fall, Mellon will issue additional support of up to $3 million for small art museums across the country who often have limited access to capital as part of the Art Museum Futures Fund’s next wave of grantmaking, which can be used to support expenses associated with COVID response, resiliency planning, or general operating support for critical staff and infrastructure.
“Cultural organizations like these small and midsized art museums are essential to the vibrancy of their communities and they are experiencing unprecedented financial vulnerability as a result of the pandemic,” said Mellon Foundation President Elizabeth Alexander. “We are determined to safeguard these institutions at this time of national crisis, and we believe firmly in their mission to protect and preserve the visionary voices and transformative histories of their communities. Mellon’s Art Museum Futures Fund is vital to ensuring our country’s artistic and cultural landscape remains prolific after the pandemic passes...