Private Giving’s Vital Role in Supporting the Arts

This week, the 12th annual Philanthropy Summit in New York, organized by Town & Country, underscored the urgency. The cover of the magazine’s latest issue proclaims “Now Is the Time…” (Disclosure: I am a contributor.)

“At the heart of it all, that is what philanthropy is—it’s just being good to one another,” Stellene Volandes, the magazine’s editor-in-chief, told a room full of C-suite executives, foundation leaders, Broadway stars, top broadcast talent, and billionaire patrons.

These words resonate amid wars, natural disasters, and political tumult. Private giving has taken on additional significance as the federal government is slashing funding to an array of programs and organizations.

In the art world, it’s gala season, and nonprofits are pulling out all the stops to raise money for the coming year. The schedule is packed. The Studio Museum in Harlem brought in $3.7 million on Tuesday, celebrating its new building on East 125th Street. Performa’s gala on Saturday at a Harlem church will usher in a new season of performance art. At its “Fall Night” on Monday, Dia will honor artists Melvin Edwards and Meg Webster with tributes by Sanford Biggers and Robert Gober. That same evening, the Hirshhorn Museum and Sculpture Garden hosts its gala at Lincoln Center, and the Skowhegan art school’s gala fetes Tracey Emin at the Museum of Modern Art. There are more in the coming weeks.

These appeals come as stocks and gold are surging. But the art market remains on unsteady ground, with sales down and galleries closing. A big test awaits in the November auctions, showing private giving's vital role in supporting the arts. Will the artists, who are always called on to contribute to the silent and live auctions, step up?

Some are looking to support causes they care about.

Christie’s will sell three works donated by three female artists—Caroline Walker, Flora Yukhnovich, and Ulala Imai—with proceeds benefiting the Clooney Foundation for Justice, which provides free legal aid for women’s rights and free speech in 40 countries. Established by George and Amal Clooney, the foundation has worked with 6,500 women and girls, according to its website. The works are estimated to sell for $75,000 to $115,000 and will be offered at the auction house’s postwar and contemporary art day sale on November 20.