1 Jerwood Annual Reports 2015 Jerwood Charitable Foundation Photo: Anna Arca
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1 Jerwood Annual Reports 2015 Jerwood Charitable Foundation Photo: Anna Arca Jerwood Space Photo: Johan Persson Jerwood Gallery Courtesy of Victoria Miro Gallery © Chantal Joffe Jerwood is a family of not-for-profit organisations united in their commitment to support, nurture and reward excellence and dedication in the visual and performing arts in the UK. Since 1991, Jerwood has channelled over £97 million into capital and revenue projects in support of the arts. Jerwood Foundation was founded in 1977 by its Jerwood Space and Jerwood Gallery, Hastings. Jerwood Chairman Alan Grieve, for John Jerwood, an international Foundation continues to build the Jerwood Collection of businessman and philanthropist. Since John Jerwood’s 20th and 21st century British art, which is on permanent death in 1991, Alan Grieve has continued to develop and display at Jerwood Gallery, Hastings. enhance the role of the Foundation within the arts in the — UK and established Jerwood Charitable Foundation, Page 2 Jerwood Charitable Jerwood Space Jerwood Gallery Foundation is recognised as one of the best opened in 2012, nestles beneath the is a grant-making foundation and rehearsal spaces for theatre and cliffs of Hastings in East Sussex. Its UK registered charity dedicated dance in the UK. It opened in 1998 vast picture windows look out over to imaginative and responsible as the first major capital initiative the fishing beach and historic Old revenue funding of the arts. of Jerwood Foundation and in 2007 Town. Designed by HAT projects, Established by Jerwood Foundation a top storey was added to create the award-winning gallery was built in 1999, and with an endowment of a magnificent space, ideal for by Jerwood Foundation to house £28 million, it supports outstanding rehearsing large-scale musicals. the Jerwood Collection alongside artists and arts organisations a regularly changing exhibition to develop their talents, and in Working alongside established programme. doing so to make artistic work of professional companies who pay the utmost strength, quality and competitive commercial rates are The gallery is an independent, excellence. young companies who develop their not-for-profit organisation which work at subsidised rates. operates without any core public As well as making grants, Jerwood funding. Although supported Charitable Foundation delivers its Within a beautifully refurbished by Jerwood Foundation, 50% of own strategic projects including the Victorian school, Jerwood Space its income has to be generated Weston Jerwood Creative Bursaries also offers meeting rooms, a though admission charges, trading and Jerwood Visual Arts. contemporary art gallery, café and activities, fundraising and wider striking glazed courtyard, which are financial support from benefactors open to the public and available and sponsorship. for hire. — — — Page 8 Page 18 Page 22 1 Purchased for the Jerwood Collection in 2015 2 Jerwood Annual Reports 2015 Jerwood Foundation Chairman & General Director’s Report Chairman & General Director’s Report The visual and performing arts lie at We would like to thank and acknowledge the heart of Jerwood’s focus through the great contribution made in the wide-ranging activities of Jerwood Liechtenstein by Dr Peter Marxer and his Charitable Foundation, Jerwood Space son Dr Florian Marxer. As members of and Jerwood Gallery. We are united Jerwood Foundation Council they have in our determination to discover, both played significant roles, personally, encourage, nurture, champion and professionally and financially, in the reward excellence, creativity and success and achievements of Jerwood. individuality. Since it was established in March 1977, Jerwood Foundation has Financial and Fund Review Alan Grieve CBE Philippa Hogan-Hern demonstrated an entrepreneurial spirit Strong tides and head winds prevail in all Photo: Pete Jones Photo: Pal Hansen and culture which has been adopted financial markets. Uncertainties in China, by all members of the Jerwood family driven by the slowdown in Chinese of organisations. We readily embrace GDP growth and the rebalancing of change and have become used to its economy from manufacturing adapting with the changing times. to consumer and consumption-led, brought the unforeseen devaluation of Change of Domicile the Renminbi against the US dollar and The Foundation was established in triggered a global downward correction Liechtenstein in order to take advantage in equity markets in 2015. of the relevant legal provisions for foundations which didn’t exist in the It is now eight years since the last UK or Switzerland, and also to benefit financial crisis. In past decades central from the Swiss currency and freedom banks have struggled to control inflation, of capital movement at a time when the but they are now seeking to counter UK had exchange controls. However, deflation. We support the strategy of in recent years the introduction of a our fund managers to remain invested in more complex system of governance, equities, with suitable alternative bond new taxation provisions (including and other investments. The emphasis VAT) and financial requirements by the is on quality and allocations which can Liechtenstein authorities has led us to achieve some capital appreciation as reassess our domicile. well as dividend earnings, in a potentially low growth world. We continue to hold At the end of 2014 we took the major a proportion of our investment funds decision to begin the process of moving in Asian markets as the fundamental the domicile of the Foundation and in July shift from Western Europe to Asia 2015 Jerwood Foundation and Jerwood remains. Our Fund returned an annual Holdings Limited (a wholly owned performance of 3.4% which reflects subsidiary which holds the assets of the our investments in Asia, Europe and Foundation) were registered in Jersey. the US. Against a background of world markets performances (sterling We have established a new Council of adjusted) were FTSE All World Index at Jerwood Foundation, the members of 4.1% and FTSE All Share Index of 1.0%. which are also Directors of Jerwood The positive markets were Europe and Holdings Limited: Alan Grieve (Founder Japan. In contrast emerging markets and Dame Barbara Hepworth (1903–1975) and Chairman), Angus Spencer-Nairn Asia were in negative territory. Strong Study for Lisa (Hands to Face), 1949 CA and Kathryn Tully FCCA TEP (both uncertainties are continuing into 2016 Jerwood Collection senior members of Rawlinson & Hunter and forecasting likely performances at © Bowness based in Jersey). this stage of the year is impossible. 3 No one would ever want to live in a city without culture. Culture is the fuel that drives the urban metropolis. Artists, literary thinkers, designers and directors feed our souls and our imaginations, offering both a mirror and a chance to escape —Boris Johnson MP, Mayor of London Jerwood’s Role and the Future for supported by DCMS ministers, paid The best illustration of this was the the Arts dividends in the Chancellor’s autumn Jerwood Charitable Foundation’s In our 2014 Report we underlined the Spending Review which confirmed a launch in June of the Weston Jerwood continuing lament of the media, artists, cash increase to Arts Council England Creative Bursaries programme, a talent critics and commentators that austere of approximately £10 million per annum development initiative creating work financial conditions were confronting for the four years up to 2019/20. In and training opportunities for graduates the arts, but have been heartened by the describing the arts sector as ‘one of in arts organisations throughout the growing emphasis and understanding the best investments we can make as UK, supported by Garfield Weston that arts and culture inspire and foster a nation’, Chancellor of the Exchequer Foundation, Andrew Lloyd Webber social cohesion, employment, urban George Osborne MP endorsed the value Foundation, J Paul Getty Jnr Charitable regeneration, tourism and economic of the arts and creative industries and Trust and Jerwood Charitable benefits throughout the UK. Art is for acknowledged that the contribution Foundation (for further details see page everyone, so growth in the arts cannot they make to the UK’s economy more 12). Kirsty Williams, now Marketing and be limited to the UK’s big cities. With than repays investment in them. Communications Officer at Jerwood the support of the Art Fund, Arts Between 2015 and 2018, Arts Council Gallery was a beneficiary of our original Council England, local authorities and England plans to invest £1.1 billion of pilot programme, the DCMS Jerwood commercial sponsorship, regional public money from government and Creative Bursaries Scheme, which museums and art galleries have to an estimated £700 million from the successfully concluded in 2012 with remain ambitious in their development National Lottery. 90% of recipients gaining employment of nationally important collections and in the arts. exhibitions. The growing reputation for Against this tide of cultural optimism, cultural vibrancy in the major towns there are deep and very real concerns Impact and Reach along the south coast, Chichester, about the impact of the local authority The illustrated timeline in last year’s Eastbourne, Hastings and Margate bears budget cuts (2015–20) on the arts and report set out the 18 ongoing capital witness to this. particularly for the future of regional projects bearing the Jerwood name. museums and galleries (40 museums Their geographical spread is illustrated Working closely