"Although it is not linked, cutting US funding has reinforced the need and importance of being able to rely on a strong endowment and to be able to commit to projects,"
"Most [cultural heritage preservation] projects are multi-year projects and we work with partners around the world. Once we commit, we need to be able to finish it."
"The commitment to preserve cultural heritage both honours the past and inspires the future,"
World Monuments Fund launched a $60 million endowment campaign to secure long-term sustainability amid increasing uncertainty in cultural heritage funding. The US Department of State dismantled about 45% of foreign aid grants earlier this year, including seven grants totalling more than $800,000 to WMF, representing half of its US federal funding. WMF leadership had planned the endowment before the cuts, but the funding reductions reinforced the need for a strong endowment to commit to and complete multi-year preservation projects with international partners. Suzanne Deal Booth contributed $10 million to establish the Suzanne Deal Booth Institute for Heritage Preservation, focusing on leadership, mentorship and sustainable stewardship.
Read at The Art Newspaper - International art news and events
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