"Tate's plan to secure its future by building an endowment fund worth £150m by 2030 has sparked debate in the UK museum sector about whether such a funding model could sustain national and regional institutions long-term. Endowments are less widespread in the UK than in the US, where the top 45 museums hold such funds worth more than $40bn in aggregate, according to UpStart Co-Lab figures."
"Other UK museums have quietly operated such funds for some time: the Victoria and Albert Museum benefits from a £10m endowment held by the Gilbert Trust for the Arts that finances the periodic refurbishment of the Gilbert Galleries. The British Museum has almost £50m in endowments, according to its 2025 annual report. "At a time of declining public investment in the sector and a challenging environment for fundraising, cultural institutions facing financial strain are inevitably looking at alternative funding models,""
Tate has launched the Tate Future Fund to build a £150m endowment by 2030, raising over £43m so far and holding a gala that raised more than £1m. Endowments remain less common in the UK than in the US, where top museums hold substantial funds. Several UK institutions already operate or have launched endowments, including Baltic Centre for Contemporary Art, the V&A via the Gilbert Trust, and the British Museum. Declining public investment and fundraising challenges are driving interest in endowments. The DCMS supports increased philanthropy and identifies endowments as one way to strengthen long-term finances.
Read at The Art Newspaper - International art news and events
Unable to calculate read time
Collection
[
|
...
]