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Cy Twombly Foundation is a private corporation based in NEW YORK, NY. The foundation received its IRS ruling in 2005. The principal officer is Pamela Wakoff. It holds total assets of $1.5B. Annual income is reported at $67.2M. Total assets have grown from $70.1M in 2011 to $1.5B in 2024. The foundation is governed by 9 officers and trustees. Tax records are available from 2015 to 2024. Funding is distributed across 5 states, including New York, Illinois, Italy. According to available records, Cy Twombly Foundation has made 34 grants totaling $44.3M, with a median grant of $240K. Annual giving has decreased from $11.8M in 2020 to $4M in 2024. Grantmaking activity was highest in 2023 with $16.5M distributed across 8 grants. Individual grants have ranged from $45K to $10M, with an average award of $1.3M. The foundation has supported 15 unique organizations. The foundation primarily supports organizations in Illinois, Massachusetts, Pennsylvania, which account for 24% of all grants. Grantmaking reaches organizations across 4 states. Contributions to this foundation are tax-deductible.
The Cy Twombly Foundation operates as a highly focused artist-endowed foundation dedicated to preserving and promoting the legacy of Cy Twombly (1928-2011), one of the most influential American artists of the 20th century. The foundation pursues its mission through three primary strategies: (1) direct donations of Twombly artworks to major museums worldwide, often accompanied by funding for gallery renovation and conservation; (2) financial grants to cultural institutions that exhibit, study, or conserve Twombly''s work; and (3) support for creative practitioners, most notably through the annual Cy Twombly Award for Poetry administered by the Foundation for Contemporary Arts. The foundation''s approach is characterized by deep, transformative investments in a small number of institutions rather than broad, scattershot grantmaking. Led by President Nicola Del Roscio, who was Twombly''s longtime collaborator and confidant, the foundation brings intimate knowledge of the artist''s intentions to its philanthropic decisions. The foundation also maintains a comprehensive online archive of Twombly''s oeuvre and produces scholarly programming including documentary films and artist collaborations.
With approximately $1.5 billion in assets, the Cy Twombly Foundation is one of the largest artist-endowed foundations in the world. Annual giving varies significantly year to year, from $4 million (2024, 4 grants) to $16.5 million (2023, 8 grants), reflecting the foundation''s project-driven rather than programmatic approach. Individual grants range from $45,000 (the annual poetry award) to $7.5 million for major museum gifts and renovations. The foundation''s giving is heavily concentrated in artwork donations to museums, which can represent tens of millions in value beyond cash grants. Geographic distribution spans New York, Houston, Philadelphia, Rome, and other cities where Twombly lived and worked. The foundation typically makes 4-10 grants annually, favoring deep investments in select institutions over numerous smaller awards. Cash grants to cultural organizations often accompany in-kind donations of artwork, creating combined gifts of extraordinary value—such as the $42.5 million total commitment to the Galleria Nazionale in Rome.
| Foundation | Assets | Annual Giving | Focus | Application Model |
|---|---|---|---|---|
| Cy Twombly Foundation | $1.5B | $4-16.5M | Twombly legacy, poetry, museums | Pre-selected only |
| Andy Warhol Foundation | $330M | $15-20M | Visual arts broadly, artist support | Open applications |
| Robert Rauschenberg Foundation | $600M+ | $8-12M | Contemporary art, climate, social equity | Open applications |
| Joan Mitchell Foundation | $200M+ | $3-5M | Painting, sculpture, artist residencies | Open applications |
| Helen Frankenthaler Foundation | $200M+ | $3-5M | Visual arts, museum exhibitions | Invitation + open |
| Willem de Kooning Foundation | $100M+ | $2-3M | Visual arts, cultural heritage | Pre-selected |
| Josef and Anni Albers Foundation | $100M+ | $2-4M | Art, design, education | Mixed |
The Cy Twombly Foundation is exceptional among artist-endowed foundations for its asset size—at $1.5 billion it dwarfs even the Andy Warhol Foundation, which is often cited as the largest in the field. However, unlike the Warhol and Rauschenberg foundations, which accept open applications and fund broadly across the visual arts, Twombly operates exclusively through pre-selected grants. Its annual giving as a percentage of assets is notably conservative, reflecting a long-term preservation orientation rather than a spend-down approach.
In 2025, the Cy Twombly Foundation made several landmark commitments. In January 2025, the foundation donated two rare early paintings and 121 drawings to The Menil Collection in Houston, celebrating the 30th anniversary of the Menil''s dedicated Cy Twombly Gallery. In June 2025, the foundation announced a $42.5 million combined gift to the Galleria Nazionale d''Arte Moderna e Contemporanea in Rome, comprising 12 artworks, complete renovation of the museum''s conservation laboratory, and establishment of an international postgraduate program for conservation of contemporary works on paper. A new Cy Twombly Room opened at the Galleria Nazionale in September 2025 housing the donated works, including the significant canvas Untitled (Navel of the World) 1959-61. The foundation also donated five sculptures to the Philadelphia Museum of Art and made a $2.5 million gift to the Whitney Museum of American Art for conservation. The 2025 Cy Twombly Award for Poetry was announced, continuing the foundation''s annual $45,000 unrestricted award administered by the Foundation for Contemporary Arts, with Harmony Holiday named as the 2026 recipient.
The Cy Twombly Foundation does not accept unsolicited grant proposals—all funding decisions are made internally by the foundation''s leadership. However, organizations seeking engagement should consider the following: (1) Institutions with existing Twombly holdings are most likely to receive support, particularly for conservation, exhibition, and scholarly programming related to those works. (2) Museums planning exhibitions of Twombly''s work should reach out directly to info@cytwombly.org early in the planning process, as the foundation has historically supported exhibition-related costs and loaned works. (3) The foundation values scholarly and conservation expertise—proposals with strong academic or conservation components align with its mission. (4) Organizations in cities where Twombly lived and worked (New York, Rome, Lexington VA, Houston) have geographic advantage. (5) The Cy Twombly Award for Poetry is the only recurring open opportunity, but it operates through confidential nomination by the Foundation for Contemporary Arts—poets cannot self-nominate. (6) Cultural organizations seeking emergency funding should note the foundation''s participation in the Artist Relief coalition with the de Kooning, Frankenthaler, and Teiger foundations. (7) Direct inquiries can be made to the foundation at 19 East 82nd Street, New York, NY 10028 or by calling 212-744-2228.
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Maintaining and preserving the artistic legacy and archives of Cy Twombly, including paintings, drawings, sculptures, photographs, and prints
Annual $45,000 unrestricted award made through the Foundation for Contemporary Arts to support a poet selected through confidential nomination
Grants to major art institutions for exhibitions, acquisitions, and public access to Twombly works
Emergency funding for cultural workers, established in partnership with Willem de Kooning, Helen Frankenthaler, and Teiger foundations
With approximately $1.5 billion in assets, the Cy Twombly Foundation is one of the largest artist-endowed foundations in the world. Annual giving varies significantly year to year, from $4 million (2024, 4 grants) to $16.5 million (2023, 8 grants), reflecting the foundation''s project-driven rather than programmatic approach. Individual grants range from $45,000 (the annual poetry award) to $7.5 million for major museum gifts and renovations. The foundation''s giving is heavily concentrated in a.
Cy Twombly Foundation has distributed a total of $44.3M across 34 grants. The median grant size is $240K, with an average of $1.3M. Individual grants have ranged from $45K to $10M.
The Cy Twombly Foundation operates as a highly focused artist-endowed foundation dedicated to preserving and promoting the legacy of Cy Twombly (1928-2011), one of the most influential American artists of the 20th century. The foundation pursues its mission through three primary strategies: (1) direct donations of Twombly artworks to major museums worldwide, often accompanied by funding for gallery renovation and conservation; (2) financial grants to cultural institutions that exhibit, study, or.
Cy Twombly Foundation is headquartered in NEW YORK, NY. While based in NY, the foundation distributes grants to organizations across 4 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| NICOLA DEL ROSCIO | PRESIDENT | $202K | $11K | $213K |
| ELEONORA DI ERASMO | MNG DIRECTOR/SECRETARY (AS OF 2/2024) | $112K | $0 | $112K |
| NICHOLAS SEROTA | DIRECTOR | $65K | $0 | $65K |
| JONAS STORSVE | DIRECTOR | $50K | $0 | $50K |
| CRISTIAN GRASU | DIRECTOR (AS OF 6/2024) | $28K | $0 | $28K |
| DAVID BAUM | SECRETARY (TO 2/2024) | $0 | $0 | N/A |
| SANDRA MARIONPOULOU | DIRECTOR (AS OF 6/2024) | $0 | $0 | N/A |
| UDO BRANDHORST | DIRECTOR (TO 6/2024) | $0 | $0 | N/A |
| PAUL WINKLER | DIRECTOR (TO 1/2024) | $0 | $0 | N/A |
Total Giving
$4M
Total Assets
$1.5B
Fair Market Value
$1.5B
Net Worth
$1.5B
Grants Paid
$4M
Contributions
N/A
Net Investment Income
$5.4M
Distribution Amount
$7.4M
Total: $62.1M
Total Grants
34
Total Giving
$44.3M
Average Grant
$1.3M
Median Grant
$240K
Unique Recipients
15
Most Common Grant
$50K
of 2024 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| ART INSTITUTE OF CHICAGONON-CASH DONATION OF ART FOR EXHIBITION SUPPORT | CHICAGO, IL | $3.8M | 2024 |
| DRAWING CENTER INCGENERAL SUPPORT | NEW YORK, NY | $100K | 2024 |
| FOUNDATION FOR CONTEMPORARY ARTS INCSUPPORT FOR THE CY TWOMBLY AWARD FOR POETRY | NEW YORK, NY | $51K | 2024 |
| SAFE HORIZON INCGENERAL SUPPORT | NEW YORK, NY | $50K | 2024 |
| Museum Of Fine Arts BostonNON-CASH DONATION OF ART FOR EXHIBITION SUPPORT | Boston, MA | $7.5M | 2023 |
| Whitney Museum Of American ArtGENERAL SUPPORT | New York, NY | $1.3M | 2023 |
| Fondazione Nicola Del RoscioGENERAL SUPPORT - SEE EXPENDITURE RESPONSIBILITY STATEMENTS | Terni | $240K | 2023 |
| Foundation For Contemporary Arts InSUPPORT FOR THE CY TWOMBLY AWARD FOR POETRY | New York, NY | $51K | 2023 |
| Philadelphia Museum Of ArtEXHIBITION SUPPORT | Philadelphia, PA | $10M | 2020 |
| Comune Di GaetaCOVID RELIEF | Gaeta Lt | $417K | 2020 |
| New York Foundation For The ArtsCOVID RELIEF | Brooklyn, NY | $275K | 2020 |
| Swiss InstituteSUPPORT FOR COVID RELIEF | New York, NY | $250K | 2020 |
| United States Artists IncCOVID RELIEF | Chicago, IL | $250K | 2020 |
| Laziofarma SpaSUPPORT FOR COVID RELIEF RELATED HOSPITAL SUPPLIES | Gaeta Lt | $120K | 2020 |
| Museum Of Cycladic ArtEXHIBITION SUPPORT | Athens | $50K | 2020 |