By Forum Staff
Mayor Eric Adams and New York City Council Speaker Adrienne Adams on Monday announced that, thanks to strong fiscal management, the City will make multiple investments in New York City’s cultural sector by allocating more than $22 million over the next three fiscal years for the New York City Department of Cultural Affairs as part of the city’s Fiscal Year 2025 Executive Budget. The investment includes $18.3 million over the next three fiscal years for the 34 members of the Cultural Institutions Group. These institutions — including museums, performing arts centers, historical societies, zoos, and botanical gardens — operate on city-owned property and serve as community anchors and economic engines for neighborhoods in all five boroughs. Over the next two fiscal years, the FY25 Executive Budget will also allocate $4.3 million to the Cultural Development Fund, which supports over 1,000 cultural nonprofits across the city annually, investing in a wide range of groups that represent the backbone of the city’s remarkable cultural community.
“Our people, arts, and culture are the heart and soul of New York City, and they are the cornerstone of our economic rebound,” said Mayor Adams. “New Yorkers, alongside tourists from every corner of the globe, enjoy our world-class museums, theaters, performing arts centers, and more. Our strong fiscal management has enabled us to put money back into the cultural organizations that do so much for us, and with this investment of more than $22 million we are reaffirming our commitment to this vital sector.”
By stabilizing the city’s budget and fiscal outlook, the Adams administration has been able to invest city and state recurring dollars and protect $22.6 million for cultural institutions. Cultural organizations continue to engage New Yorkers and attract visitors to New York City, as the city boasted its fourth highest year for tourism in 2023 and projects even more visitors in 2024. According to the Mayor’s Management Report, attendance at CIG-member institutions increased more than 60 percent in FY23 over FY21.
Mayor Adams, DCLA Commissioner Laurie Cumbo, and other members of the administration have collaborated on many new initiatives to support the city’s vibrant cultural sector and bring the arts to all New Yorkers. In February, DCLA announced more than $52 million in grants for 1,031 nonprofits through the CDF, which is part of this budget investment for FY25 and FY26. With support from Mayor Adams, the City Council, and borough presidents, DCLA also announced more than $222 million in new funding for cultural capital projects across the city, in the Bronx, Brooklyn, Manhattan, Queens, and Staten Island.
“New York City must invest in the success of our cultural institutions if we are to remain the cultural capital of the world — continuing to benefit from the estimated $110 billion in annual activity the cultural economy generates for our city,” said Speaker Adams. “Today’s joint announcement with Mayor Adams is an important down payment for our cultural sector in the Executive Budget that establishes a foundation to build upon for the final city budget. Our arts and cultural institutions are essential pillars of our city’s communities that the Council has consistently championed adequate funding to support. We look forward to our continued work with the administration and all stakeholders to deliver a budget that invests the necessary funds for a healthy and robust cultural sector.”
