May 18, 2009
The Jerome Foundation Board of Directors assessed the Foundation's capacity for making grants in the fiscal year running from May 1, 2009 through April 30, 2010. Directors faced the imperative of reducing the administrative and grantmaking budget to reflect the significantly smaller size of the Foundation's endowment. This was balanced with the Foundation's commitment to artists and arts organizations facing serious economic challenges at this time. The intent is to respond to the needs of artists and arts organizations in a difficult economic environment balanced with a prudent approach to expenditures so as to ensure the Foundation's future capacity to make grants.
The Foundation is likely to distribute fewer grant dollars than it did in fiscal 2009 but at a more reasonable level than was anticipated several months ago. The Foundation plans to distribute more than the payout required by the Internal Revenue Service. The Foundation's projected 2009-10 budget incorporates a 10% reduction from the level of 2008-09 expenditures. That reduction will be implemented in a variety of ways, as individualized as possible in consultations with grantees. The Foundation will accept proposals from organizations and artists/ensembles using fiscal sponsors that have received support within the past five years. Grants to organizations and fiscal sponsor grantees, which the Foundation has not previously supported, will not be made for at least the next six months. The Foundation will not accept applications from new organizations and fiscal sponsors through October 2009 and will post new information by November 15, 2009, on whether that position will change in the second half of the fiscal year.
The Foundation will continue to make new grants to artists in its Film and Video Programs and the Travel and Study Grant Program, although both will be reduced by 10% in terms of funds available.
Please continue to check the Foundation's website for changes as the year progresses.
Trick Saddle, by Jenny Rogers and Clove Galilee, at Mabou Mines/Suite, Featuring: Karen Kandel, Francesca Harper, Hope Clark, Clove Galilee, & LoMa Familiar, with original live music by Allison Cornell. Photo: Jenny Rogers, 2003