News & Events

Since 2018, the Louvre Museum in Paris has allocated five percent of its €250 million (~$301 million) endowment to socially-responsible investments, including artisan and traditional craft, cultural tourism, and cultural heritage. It’s one example of how an institution with a sizable endowment — a pool of money whose principal is reinvested to yield an income — can grow its own assets while benefiting the greater good. In financial parlance, the practice is known as “impact investing”: making investments to generate positive social or environmental change, in addition to financial returns. And while some institutions like the Louvre are already doing so, a new guide released by Upstart Co-Lab, a think tank of Rockefeller Philanthropy Advisors, argues that impact investing could be much more widespread in the US, where museums hold more than $40 billion in their combined endowments.

Loretta Pettway Bennett remembers well the moment everything changed for her tight-knit, rural community. The 20th century was drawing to a close. She was in her late 30s, living with her husband and sons on the site of an old cotton plantation on a deep bend in the Alabama River. Any spare time she could muster was spent stitching quilts alongside her grandmother, mother and aunt, to pile on beds or hang on walls to stop the damp river air from snaking in between the logs of their cabin walls.

Imagine if Black jazz and blues musicians from the South had been excluded from the world of music because they didn’t receive formal training in conservatories and lacked representation in the entertainment industry. What would this historical omission have meant for American culture? An omission not so different from this one has played out in the art world. There are 160 artists in the collection of Souls Grown Deep, the foundation which I serve as president. It supports the legacy of African American artists from the Southern United States. A few weeks ago, we launched the Resale Royalty Award Program (RRAP) to address the fact that, historically, many of these artists were bypassed by the art market, marginalized as a result of their race, gender, geography, and because they were “self-taught.”

The William and Flora Hewlett Foundation announced today that it will award $15 million to a range of nonprofit organizations working against systemic racism, part of a larger set of commitments that the foundation pledged this summer. The 15 recipient organizations include charities working across a broad swath of issues—from health to education to human rights—to advance the cause of racial justice, fight against anti-Black racism and amplify the values, aspirations, and power of Black communities.

Greg Lauren knows the power of names. When the artist-turned-fashion designer launched his eponymous line in February 2011, it was his last name — and specifically the fact that he’s Ralph Lauren’s nephew — that helped open doors and give his meticulously sliced and spliced artisanal take on menswear early exposure. Today, as his label stands on the cusp of its 10th anniversary, he’s determined that the lesser-known names who have been part of his creative journey — from the stylists working on his look books to the Black quilters of Gee’s Bend, Ala., who inspired his patchwork aesthetic — be recognized for their contributions.

American patchwork quilts, which sprang up in large part out of the pragmatic need for warmth during wintry months, may not seem particularly interesting in today’s art world. Yet those historic hand-sewn pieces frequently tell stories of injustice and inequality that are just as relevant today as they were when they were first made. Now, with two U.S. museums and one London gallery opening exhibitions on quilts that contain compelling messages of racial injustice and gender equality, the artistic American subgenre is once again rightfully center stage in the public’s imagination.

Souls Grown Deep Foundation, a nonprofit organization devoted to promoting work by African American artists from the American South, launched a Resale Royalty Award Program to compensate artists when their work is resold through the foundation’s Collection Transfer Program. The program, which applies to past as well as future transactions, includes sales at auction, in galleries, and to museums. It offers living artists 5% — the highest royalty threshold worldwide — of the proceeds from secondary market sales, at up to $85,000 annually per artist.

The Souls Grown Deep Foundation, an organisation dedicated to documenting and promoting the work of African American artists from the US South, is launching a Resale Royalty Award Program that will grant monetary awards to living artists whose works have been sold through the foundation’s Collection Transfer Program. That initiative has so far placed more than 400 works into museums around the world, including the Met, the Museum of Fine Arts, Boston, Atlanta’s High Museum of Art, the Studio Museum in Harlem, Washington, DC’s Phillips Collection, and more. Now, around 50 artists whose work has so far been sold will receive a payout, a rare occurrence in the US, which does not have a droit de suite law for secondary market sales, when their prices may have gone up.

The Gee’s Bend quilters have long been known for sewing fabric into beautiful fine art, but when the pandemic reared its head, Mary Margaret Pettway (on left) and Mary McCarthy took to smaller objets d’art. “We had a copious amount of cloth from one company and thought, ‘Oh, these would make great masks,’ ” says McCarthy. So they partnered with the Souls Grown Deep Foundation, of which Pettway is board chair, to hire six more quilters and gather materials to make 600 masks—enough for their entire community.

Every quilt has a story to tell, and the quilters of Gee's Bend have fostered quite a legacy for storytelling. For over a hundred years, the women who live in this small community in Southern Alabama have passed down the tradition of quilting from daughter to daughter, and each quilt reveals the personage who made it and the time period in which it was artfully stitched together. "It's been a continuous line of creation," says Raina A. Lampkins-Fielder, curator at Souls Grown Deep. "They've taken traditional quilt patterning and made it into their own, improvisational and unique."