The Warhol Foundation is turning art into grant money

Following the announcement by the Andy Warhol Foundation for the Visual Arts that it has sealed a deal with Christies to liquidate its remaining art holdings of around 20,000 works, The Art Newspaper looks at what the decision tells us about the Foundation's mission and how it differs from other forms of artist-endowed foundations.

Unlike many others, The Warhol Foundation's intentions from the outset has been to liquidate art assets to build a a financial endowment and fund grants to support its charitable purpose to advance the visual arts. This has enabled the Foundation to achieve a significant, generative impact on the visual arts on a national scale. Read more...