Elsewhere online
March 30, 2012

Rauschenberg Foundation Eyes Major Growth Spurt

The Robert Rauschenberg Foundation, which has kept a relatively low profile since the late artist founded it in 1990, plans to boost its grant-making as much as tenfold in the next 15 years, according to The Art Newspaper.

Using assets transferred from the artist's estate, the foundation intends to "slowly and carefully" build its endowment from $18-million to $350-million and increase annual grants from $2-million to as much as $20-million, focusing on arts education, arts-based social activism, and supporting new work, executive director Christy MacLear said.

Those assets include New York properties owned by Mr. Rauschenberg, who died in 2008, and an art collection featuring works by Marcel Duchamp, Andy Warhol, and other noted modern artists.

If fulfilled, the plan would make the Rauschenberg fund one of the country's biggest private grantors in the visual arts, rivaling or exceeding the Warhol Foundation.