World Monuments Fund raises 62 million for the arts
The organisation in Italy is supporting the restoration of the Golden Hall at the Poldi Pezzoli Museum and the restoration of Raphael’s Loggia in the Vatican. Italia Nostra has launched a ‘Red List’ of cultural heritage sites at risk
Key points
Wars, economic and humanitarian crises and, of course, climate change are putting cultural heritage at risk. The World Monuments Fund (WMF) has raised $62 million for its ‘Endowment Campaign’ to mark its 60th anniversary, in less than a year, with 100 per cent of the American organisation’s Board of Trustees participating. The funds have tripled the WMF’s net endowment, which is expected to exceed $100 million by 2028, strengthening the long-term capacity of the independent New York-based organisation – dedicated to safeguarding the world’s most precious sites – to protect global cultural heritage.
The income from the endowment fund will provide the WMF with the resources to strengthen key areas – namely research, education and training in cultural heritage professions – through the Suzanne Deal Booth Institute for Cultural Heritage Preservation, programmes dedicated to developing future generations of restoration specialists; programmes relating to awareness-raising, crisis response and the WMF’s international network; and investments in field projects to protect cultural heritage around the world.
“Cultural heritage is being destroyed by conflict, climate change, neglect and urbanisation faster than the world can respond,” explained Bénédicte de Montlaur, president and CEO of the World Monuments Fund. “This campaign provides the WMF with the long-term resources needed to act with greater urgency and ambition: the generosity of individuals, foundations and companies will help to protect these irreplaceable sites for future generations.”
Support schemes
The announcement comes as the WMF launches a five-year strategic plan to expand global support for the protection of cultural heritage and make it a global priority. The campaign was launched thanks to an initial contribution of $20 million in the form of an Endowment Challenge Grant from The Robert W. Wilson Charitable Trust. Through this strategic co-funding mechanism (matching grant), the Trust has matched every dollar raised by 50 per cent, up to a maximum of $40 million by 31 December 2027, thereby amplifying the impact of each donation.
The WMF and Italia
The organisation has recently returned to Italia, setting up an office in Milan headed by Fiorella Ballabio and Silvia Beltrametti (who, along with her husband Jay Krehbiel, is one of the donors). Current projects include the restoration of the Salone Dorato at the Poldi Pezzoli Museum in Milan, and the five-year restoration project for the Loggia di Raffaello in the Vatican, accompanied by a training programme on the conservation of mural paintings. The entire ‘Legacy of Raphael: The Vatican and Beyond’ initiative, which encompasses the restoration of the Vatican Loggia, training activities, digital documentation, public outreach and further ongoing projects in the Vatican, has been made possible thanks to a donation of 14.275 million dollars from the Stephen A. Schwarzman Foundation. Meanwhile, the three-month restoration of the Golden Hall at the Poldi Pezzoli Museum, which began in May this year, was completed in mid-September thanks to funding of 250,000 euros.




