Over the past 10 years, Garage has developed from an exhibition space to a valued artistic institution. Today, Garage is not only a place for exhibitions, but also a grant program for artists, courses and a master’s program at the HSE, its own publishing house and library, cinema and lecture programs. Its activities, covering both Russia and neighboring countries, significantly affect the cultural education in Eurasia.
This spring Garage has established its Endowment Fund so that any person or company could support the Museum. The income is accumulated by the fund and then being invested. Investment income received will be used to finance Museum projects or be reinvested. Those funds which are part of the endowment will remain there and be used to generate income. It is planned that the fund will help the Museum to generate capital for their work for decades to come.
The Leta team considers Garage to be one of the most important cultural phenomena in Russia. It’s not just a Museum of Contemporary Art – it’s one of the most modern museums in the world in its core. All of us constantly visit the exhibitions, schedule mettings in Garage Cafe and consider the building in Gorky Park to be our “place of power”. When we discovered that the Museum creates an endowment for its own sustainable development, the decision was made literally within 24 hours. Paperwork took two more weeks – and now, under the agreement with the Museum, until 2024 Leta will monthly transfer a portion of the funds from our income to the Garage Museum’s Endowment Fund.
We are sincerely proud that we have the opportunity to make our contribution to the development of contemporary and modern art, primarily in Russia. The “Garage” team is a group of people who are passionate about their work and create projects of amazing power and meaning. We are sure that there are still thousands of victories and achievements ahead ;-)