Goldsmiths College, part of the University of London, has implemented a new endowment model following a significant £4m donation from philanthropist Peter Kellner. This initiative allows donors to contribute art or entire collections while supporting the university's financial health amid ongoing funding challenges in arts education. Kellner's donation, which includes his notable collection of Modern and contemporary art, aims to encourage more collectors to contribute. Richard Noble, head of art at Goldsmiths, emphasizes the flexibility of the model, aiming to reinvigorate the art world and support future artists through educational initiatives.
"I hope this will be an impetus for other collectors," he tells The Art Newspaper.
"We've decided to try and create a model that could, we hope, draw upon some of the accumulated wealth within the contemporary art world, [encompassing] collectors and artists..."
"We guarantee a minimum of five years before any works are sold, and some works may eventually be shown in the Goldsmiths Centre for Contemporary Art."
"We're suggesting that there's another way to think about how your collection might help the art world ecosystem by supporting an institution like Goldsmiths..."
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