Kresge Foundation Announces New Arts and Culture Grantmaking Strategy
Kresge Foundation Announces New Arts and Culture Grantmaking Strategy
The Kresge Foundation in Troy, Michigan, has announced a new national strategy for its arts and culture program to help foster the long-term financial stability of arts groups.
The foundation's arts and culture grantmaking is focused on three areas: institutional capitalization, artists' support services, and arts and community building. Under the new strategy, institutional capitalization activities will include investments in cultural facilities and building reserves funds, with a focus on renovation and repair projects. The foundation will no longer consider traditional facilities-capital challenge grants.
The foundation is accepting pre-application e-mails for facility investments and building reserves grants, with a call for applications scheduled for the fall.
"Kresge was a critical player in the twenty-year cultural facility building boom that swept the arts sector," said Kresge arts and culture program director Alice L. Carle. "But numerous signs suggest that the building boom is over, halted by a combination of the economic recession and the staggering challenges of running capital campaigns and then covering steadily rising fixed costs. Our new grantmaking strategy is designed to assist organizations in successfully making this transition and positioning themselves for long-term sustainability."
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