The following is a list of funding opportunities for Rhode Island Arts Foundation at Newport, Inc., a non-profit 501(c)(3) charitable organization established in 1967, whose mission is to promote and preserve the art of chamber music. The Foundation’s major objective is the presentation of the Newport Music Festival, a seventeen-day series of sixty chamber music concerts held each July in the famous Gilded Age Newport Mansions.
Mark P. Malkovich III Memorial Fund at RI Foundation
The Mark P. Malkovich III Memorial Fund was established in July 2010 following the passing of the festival’s long-time director. Dr. Malkovich’s thirty-five years at the helm of the Newport Music Festival saw the growth of the festival to one of international prominence. He planned and directed thousands of concerts, presenting approximately 1,000 artists from around the world on Newport stages. Over 130 artists made their American debuts in Newport. This fund will serve as a de facto endowment for the festival to benefit its long-term goals, support financial security, generate annual operating income, and ensure the continued presentation of American debuts by foreign artists at the Festival. The goal of the fund is currently set at $1,500,000. The fund is administered by The Rhode Island Foundation and provides a 3% yearly grant disbursement. Additional donor funds may be designated, i.e. “The XXX Fund of the Newport Music Festival.”
The Newport Music Festival budgets a yearly fundraising goal of $450,000 from individual contributions, corporate sponsorships and foundation grants. These unrestricted funds are directed to the general fund for management and operation of the Newport Music Festival. The foundation’s operations are currently budgeted at $788,000 per year.
50th Anniversary Celebration
In 2018, the Newport Music Festival will celebrate its 50th anniversary season. A special celebration will be presented for this Golden Anniversary, including a return of past stars, new artists and gala events. The sponsors name will be credited as sponsor of this particular series.
Digital Archives Project
Since the Festival’s first season in 1969, the archives have amassed a collection of over 2,000 chamber music concerts. Recording formats from reel-to-reel audio to digital video are represented.
The Digital Archives Project will digitally transfer and restore the collection to be viewed and visited online by music-lovers and scholars throughout the world. An initial estimate of $250,000 is budgeted.
Since its first season in 1969, the Newport Music Festival has focused on providing opportunities for young artists.
For the past four seasons, the Festival has designated one musician as “Young Artist of the Year.”
A “Young Artist Series” is being explored to give these excellent young artists the chance to shine at the Festival.
The series is budgeted at $30,000 for three presentations.
Chamber Music Academy
Led by renowned cellist Sergey Antonov, a Tchaikovsky Competition gold medalist, the academy will focus on teaching 8 advanced applicants per Festival season.
An intensive two-week course of study with master-classes and instruction by Festival artists will culminate in two concerts at the Newport Music Festival. The first academy is tentatively scheduled for July 2017 and budgeted at $28,500.
Office Condo Mortgage
In October 2015 the foundation closed on its office condo purchase at 26 Valley Road, Unit 103 in Middletown, RI.
A mortgage of $104,593 was granted through BankNewport for a period of 25 years.
There will be no pre-payment penalty of the mortgage after the first five years.