Garage Museum of Contemporary Art launches an Endowment Fund

Since it was founded in 2008, Garage has developed from an exhibition space to a valued artistic institution with a serious international reputation. The Museum places great importance on audience development, as a result of which its activities across Russia and in neighboring countries have the ability to influence the local cultural environment.

The Museum has developed a long-term development program, which comprises a systematic, balanced approach to its work. As part of this program it has launched Garage Endowment Fund.

There are four areas: cultural development, social responsibility, ecological security, and economic development. In 2018, the year of its 10th anniversary, Garage launched the final stage of the program with Garage Green, a responsible approach by the Museum to ecology and use of resources, and Garage Endowment Fund, which will accumulate donations from individuals and legal entities.

Garage Endowment Fund is designed to provide the Museum with financial stability and to contribute to the making of exhibition, education, inclusive, research, and publishing projects.

Investment income received from the management company will be used to finance Museum projects and/or be reinvested. Those funds which are part of the endowment will remain there and be used to generate income.

On the eve of Philanthropists’ Day, which is marked in Russia on April 13, Garage launches its Endowment Fund website, via which it is possible to make a one-off donation or sign up for a monthly payment. The site contains detailed information on the fund and its management structure.

The building up of the endowment fund is a priority for Garage. In this way we can remain a leader and continue to inspire change in the field of culture, make important and memorable exhibitions, support artists and researchers, and offer new educational programs. I believe that by combining forces we can lay the foundation of the future Garage today.

— Anton Belov

In Russia endowments have existed since 2006 and have proved their effectiveness: numerous educational and cultural institutions, including Museum partners the Higher School of Economics and Moscow School of Management SKOLKOVO have successfully run development programs with the help of endowments. International museum experience shows that income from endowments comprises on average 30% of an institution’s annual budget.

Garage Endowment Fund was registered as a not-for-profit organization in 2008 in accordance with Federal law number 275 of December 30, 2006.