Garage Museum of Contemporary Art Launches Endowment Fund
The highly influential artistic institution, Garage, has worked international exhibits and activities across Russia and its neighboring countries since 2008 and now is getting the means by which they can help others. With the program, Garage Endowment Fund, the museum can use invested money as a security net for non-profit organization rather than day-to-day spending.
Anton Belov, Director of Garage: “The establishing of Garage Endowment Fund is an important stage in the Museum’s transition from private art institution to public museum. It provides financial security for the future and strengthens the ambitious, long-term plans which Garage has for the development of culture in Russia.The building up of the endowment fund is a priority for Garage. In this way we can remain a leader and continue to inspire change in the field of culture, make important and memorable exhibitions, support artists and researchers, and offer new educational programs. I believe that by combining forces we can lay the foundation of the future Garage today.”
The charitable donations made by individuals are projected to provide 30% of the institutions annual non-profit budget, providing more effectiveness and numerous cultural and educational success. The plan is designed to provide financial stability while contributing to research, publishing projects, as well as the overall making of exhibitions.
The museum predicts a growth in the development of artistic infrastructure as well as the ability to better preserve the history of Russian art. Endowments will also enable provisions to support artists through grant programs by means of studio space and artistic residence.
Photo courtesy of the Garage Museum of Contemporary Art