Jerome Foundation Grants $12M in Unrestricted Funds to 80 Arts Organizations
The Jerome Foundation has announced additional unrestricted grants totaling $12 million for 80 arts organizations in 2026, with those operating arts spaces receiving $80,000 and others $40,000. This unexpected influx of support comes as part of the foundation's Seeding Innovation Fund, aimed at helping grantees navigate funding, audience, and policy changes. President and CEO Eleanor Savage highlighted the foundation's decision to join the 'Level Up' pledge, a national initiative among 52 grantmakers to increase giving to up to 8% of assets for at least two fiscal years, move money quickly and flexibly, share 990 tax returns, and advocate for similar action. The pledge responds to the financial strain on arts organizations despite outsized market gains. Savage noted that the board, composed of artists, consulted investment managers to model the impact of increased spending. The foundation's move is seen as a model for other funders, offering tangible hope to the cultural sector. The announcement was made in September 2026, with details on the Jerome Foundation website.
Key facts
- Jerome Foundation grants $12 million total in unrestricted funds to 80 arts organizations for 2026.
- Organizations with arts spaces receive $80,000; others receive $40,000.
- The grants are part of the Seeding Innovation Fund.
- The foundation joins 52 grantmakers who have signed the 'Level Up' pledge.
- Signatories commit to increasing giving to up to 8% of assets for at least two fiscal years.
- The pledge also requires quick, equitable, flexible funding and sharing 990 tax returns.
- Eleanor Savage is president and CEO of the Jerome Foundation.
- The board of directors is composed of artists.
- The foundation consulted investment managers to model the impact of increased spending.
- The announcement was made in September 2026.
Entities
Artists
- Eleanor Savage
Institutions
- Jerome Foundation
- Stanford Social Innovation Review