Art Fund: ‘Rainy day for museums’ prompts rise in grants

Art Fund has recorded a deficit of £6.9m for 2022 after taking a planned decision to provide increased grant support to museums and galleries.

In the independent art charity’s annual report, Art Fund’s trustees said: “Our approach to a planned financial deficit this year has been that the ‘rainy day’ for museums is here, so we are spending our money wisely to support and strengthen the sector and its activities.” The £6.9m deficit follows a £1.1m surplus in 2021.

The total value of Art Fund’s charitable programme in 2022 was £19.7m compared to £15.5m in 2021. The charity itself experienced a drop in income of nearly £4m during the period, blaming the Covid pandemic and ongoing global economic instability.

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The report continues: “Recognising the needs of the sector, Art Fund’s Trustees made the strategic decision to operate at a deficit in 2022 enabling us to continue our support during the challenging year for the sector.”

Grants provided for acquisitions came to £4.5m (£3.3m in 2021), with other grants totalling £4m (£2.9m in 2021) for initiatives such as developing curatorial skills and supporting the touring and display of art.

In addition, £3.9m (£3.3m in 2021) went to museum support services, while £6.1m (£5m in 2021) was spent on promoting vistis to museums through Art Fund’s National Art Pass, and providing services to the charity’s membership.

Record acquisition grant

In a bumper year for acquisitions which saw more than 900 objects and works of art entering public collections with the organisation's support, the highest grant in Art Fund’s 120-year history was awarded.

The £2.5m grant was for the joint purchase of Joshua Reynolds’ 'Portrait of Mai (Omai)' by the National Portrait Gallery and the Getty Museum in Los Angeles.

The painting will go on public display for the first time in 18 years at the refurbished National Portrait Gallery in London from 22 June.

Other major acquisitions supported by Art Fund grants include: Joseph Wright of Derby’s 'Self-Portrait at the Age of about Forty' (c1772-73) by Derby Museum and Art Gallery; 'The Druthaib’s Ball' by 2021 Turner Prize winners Array Collective (2021) by Ulster Museum; and The Herefordshire Hoard (buried 878) by Hereford Museum and Art Gallery.

Art Fund director Jenny Waldman said that after a difficult few years, it has been “heartening to hear from our 850+ museum and gallery partners that green shoots of optimism are emerging".

She continued: "Visitor figures are edging upwards, and we have seen a discernible greater confidence in acquiring and commissioning art.

"As our brilliant museum colleagues navigate their recovery from the pandemic, with the added burden of the cost-of-living crisis, our support is needed as much as ever."