The New York-based Nonprofit Finance Fund received a $15.125 million grant from the Doris Duke Charitable Foundation to launch a new funding program benefiting arts organizations.
The national effort, “Leading for the Future: Innovative Support for Artistic Excellence,” is designed to help a select group of organizations present contemporary dance, jazz and theater performances for up to five years.
The eight to 10 selected groups will receive capital resources, technical assistance and advisory services from the Nonprofit Finance Fund, a financial services firm serving the nonprofit sector.
The Doris Duke Foundation’s grant is part of a new strategy for the funder’s arts program, which is working to create more flexible funding guidelines that allow a focus on “bold new strategies and a holistic approach” to arts organizations.
An initial pool of recipient arts groups will be gathered through a nominations process and up to 20 will be invited to submit applications for grants ranging from $800,000 to $1.8 million each.
Grant winners will be announced by July 31, 2008.