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The Federal Reserve Bank of Richmond has an extensive art collection that includes paintings, sculptures, photographs, crafts and other works.
Mission
The Bank’s art program serves two basic purposes: to provide enjoyment, education and a visually appealing environment for employees and visitors and to give encouragement and support to the arts in the Fifth Federal Reserve District. The Richmond Office’s collection contains nearly 1,200 pieces of art by more than 560 artists.
Background
The Richmond Fed has an art program because of a federal push in the 1970s to support the arts. The National Endowment of the Arts appealed to all corporations – and especially government agencies – to commit a percentage of their new building costs for the purchase of art. Arthur Burns, then chairman of the Federal Reserve, encouraged all 12 regional Reserve Banks and their branches across the country to apply that guideline to any of their new buildings. As a result, almost all offices have original work from artists in their district’s states.
The Bank provided for the acquisition of art when it began constructing its current headquarters building in 1975. The initial works were selected by an advisory panel composed of well-known collectors, museum directors and other respected professionals in the art field. High quality was the primary goal in choosing works for the collection; additionally, the works were meant to complement the architectural space while maintaining their integrity as art.
Artists
The collection in Richmond is largely regional, focusing on contemporary artists from across the Fifth District. For educational purposes, works by internationally renowned artists were included. Artists in the collection include Alexander Calder, Helen Frankenthaler, Jasper Johns, Ellsworth Kelly, Roy Lichtenstein and Andy Warhol.
