"The Road Ahead for Giving Back: Shifting Strategies for Art Philanthropy", at TEFAF New York, May 2024
From left: Tim Schneider, Komal Shah, Leslie Ramos, and Charles Hack at the Park Avenue Armory. Courtesy TEFAF New York
Full video of the talk can be found here.
Moderation:
Tim Schneider
Panelists:
Komal Shah, co-founder, Shah Garg Foundation
Leslie Ramos, philanthropy and strategy advisor, the Twentieth
Charles Hack, collector and philanthropist
Alongside the much-discussed “Great Wealth Transfer” to younger generations, quantitative and qualitative evidence suggests there is also a “Great Perspective Shift” in progress regarding charitable giving to the arts. Decreasingly content to donate large amounts of capital to storied institutions for name recognition, many philanthropists—especially younger ones—are upending the fundraising and development strategies that have helped define the past 100 years of art and culture in the US.
This panel explores the forces motivating this shift in the donor class, the ways that art organizations are evolving their approaches in response, and the larger consequences these changes are already having on art’s place in the wider world.