Arts funders have always held sway over the sector at a disproportionately high level in relation to the amount of funding provided. Suddenly now the influence of philanthropy is arithmetically higher in that its decisions will determine who survives and who doesn’t.

Even with their collective resources foundations do not have anything close to the amount of capital needed to comprehensively meet the needs of the field at this time. Nonetheless, arts funders, working together, can be strategic in defining and deploying the kinds of capital that will provide equitable relief and opportunity to the sector as a whole.