How the Aspen Institute supports foundations funded by art - Inside Philanthropy

The Aspen Institute's Artist Endowed Foundations Initiative (AEFI) provides crucial support and education to directors of over 300 foundations established by artists, collectively holding more than $9 billion in assets.

AEFI emerged from a 2007 study recognizing the rapid growth of artist-endowed foundations and their unique challenges. These foundations face complex regulations around self-dealing, public benefit requirements, and managing art collections while fulfilling charitable missions. The initiative addresses knowledge gaps through research, strategic seminars, leadership forums, and networking opportunities. Foundation leaders often come from artistic backgrounds with limited nonprofit experience, making AEFI's educational programs essential for professional development.

• AEFI supports directors through foundation basics training, covering fiduciary duty, governance, and art market strategy
• The initiative fosters collaboration between foundations, enabling joint grants and emergency funding partnerships
• Foundation leaders benefit from a generous, non-competitive community that shares knowledge and connections
• Artist-endowed foundations continue growing due to an aging artist population and expanding art market values