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...

Warhol Foundation to sell art worth $100 million to boost its grant-making capacity

The Andy Warhol Foundation for the Visual Arts will sell "thousands" of works from the artist's estate to boost its endowment, currently worth around $225 million. Foundation chairman Michael Straus  said: "We have chosen to mark the Foundation's 25th anniversary by expanding the scope of our art sales in order to in crease our grant-making capacity." Since its founding in 1987, the Foundation has made grants totalling nearly $250 million to artists, museums and non-profit organisations. Read more...
Image: Detail of Andy Warhol's dollars painting