FOUNDATIONS IN THE ART WORLD: FINANCIAL CHALLENGES

01/10/2019, Claudio Simonetti

Swiss private art museums are struggling financially, recently wrote Etienne Dumont in Bilan, a Swiss business magazine, concluding his article with a clear caveat: do the math before launching your own foundation! This contribution focuses on foundations having a public benefit purpose active in the art world at large, and tries to describe the financial challenges and risks they face from the day they are established, looks at possible organizational solutions to control and minimize such risks and briefly describes the remedies in case a foundation runs into financial troubles.