Artists tend to be guarded when discussing finances, but privately most acknowledge that funds for their philanthropic pursuits come from the sale of their artworks or from private investments. That raises questions about commitment: If the art market dips, if sales dry up, what happens to the foundations? Effective philanthropy usually requires sustained support. Beyond supplying money up front, that means being there long term. The unpleasant truth is that as private organizations, these artist foundations are not beholden to anyone other than, say, a nominal board; they could cease functioning abruptly.

Still, it is hard to criticize people who aspire to further educational and social causes. Good for them, I say. If only more people with new wealth—artists included—would do things like this. And given the staggering amounts of money that have been made by dealers and collectors in recent years, one wonders, Where’s the giving back? The absence of widespread munificence in the art world makes these new efforts even more noteworthy. "Artists to the Rescue" originally appeared in the November 2008 issue of Art+Auction. For a complete list of articles from this issue available on ARTINFO, see Art+Auction's November 2008 Table of Contents.