Case Study | Artistic patronage harmonizing finance & culture The Charitable Museum Endowment Fund | Page 2

Art & Finance Report 2017 |
 Section 2 - Art and wealth management survey
CASE
STUDY
Javier Lumbreras
CEO
The Charitable
Museum Endowment
Fund, L.P.
The Charitable Museum
Endowment Fund
Artistic patronage
harmonizing finance
and culture
Javier and Lorena Lumbreras had a dream; rescuing
a splendid 16th -century Jesuit school, Saint Nicholas
Church and other adjacent buildings in a state of ruin
and disrepair, along archaeological medieval and Roman
findings, located in Arévalo, Spain.
The key motivation behind is the creation
of COLLEGIUM, a place destined to
generate social change, sustainable
intellectual stimulation, the perpetuation
of community well-being while building
a legacy for their family. The ambitious
scope of the project led to the creation
of The Charitable Museum Endowment
Fund, an open-ended hedge fund that
aims to reduce or permanently eliminate
a museum’s dependency on its founder’s
resources, while also creating a network
through which museums can share
resources and innovations. The following
case study explores the creation of Spain’s
most ambitious private museographic
project of the 21st century since the
Thyssen-Bornemisza Museum in Madrid,
along with the investment vehicle that will
render this endeavor financially stable.
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Scheduled to open in 2020, COLLEGIUM
will be one of the first museums to
integrate the cultural and economic
structures of its locality with its values
and operative system. This project will not
only become the permanent home of the
Adrastus Collection—which comprises
over 600 artworks by 150 artists from five
continents curated by Patrick Charpenel—
but will also create an exchange platform
with the region’s public museums as
announced by the government and
summarized in a protocol signed last June.
The guiding principle behind COLLEGIUM
is critical museology where the aim is to
capture the radical nature of the most
important manifestations of 21 st century art
and the history of the site.