A Gift for the Future: £6 Million Donation Breathes New Life into Goldsmiths’ Arts Legacy

Goldsmiths, University of London—long regarded as one of the UK’s most influential institutions for the visual arts—has received a transformative £6 million donation aimed at revitalizing its cultural programs during one of the most financially precarious times in its history. The landmark gift, made by philanthropist and former investment banker Peter L. Kellner, includes both a substantial cash endowment and an exceptional collection of contemporary artwork.

The donation arrives at a critical juncture. In recent years, Goldsmiths has faced rising financial pressure, partly due to a nationwide drop in student enrollment and government budget cuts to higher education. In 2022, the university announced plans to cut nearly 20% of its academic staff, sparking protests from faculty and alumni alike. Many feared that these reductions would erode Goldsmiths’ identity as a powerhouse of artistic innovation and experimentation.

Against that backdrop, Kellner’s gift stands as both a lifeline and a challenge—a call to reimagine how UK arts institutions can survive and thrive in an increasingly unsupportive political and financial environment.

An Unrestricted Offering

What sets this donation apart isn’t just its size—it’s its flexibility. Of the £6 million, £2 million comes in the form of liquid cash, while the remaining £4 million is the estimated value of Kellner’s private collection of over 60 artworks. Unlike many philanthropic gifts earmarked for specific purposes, Kellner’s collection is being transferred without conditions. Goldsmiths may choose to exhibit the works, use them as teaching material, or even sell them to raise funds for student programs or infrastructure.

“Too often, institutions receive gifts tied up with restrictions that limit their usefulness,” Kellner told reporters. “My aim was to give Goldsmiths the tools to decide for itself what it needs to grow.”

This kind of unrestricted support is rare—and sorely needed. Universities across the UK, particularly those specializing in arts and humanities, have seen their funding squeezed as policymakers prioritize science, technology, engineering, and math (STEM) programs. For Goldsmiths, which helped launch the careers of artists like Damien Hirst, Sarah Lucas, and Steve McQueen, maintaining its world-class creative curriculum has become increasingly difficult without outside support.

A Collection with Deep Personal Meaning

Kellner’s donated collection includes works by luminaries such as Lucio Fontana, Philip Guston, Antony Gormley, and Basil Beattie. Many of these pieces have never been displayed publicly, though they have been exhibited in major institutions like Tate Modern and the Serpentine Gallery.

The donation also serves as a tribute to Beattie, a long-time Goldsmiths tutor and close friend of Kellner. Beattie, who died in 2023, was known for his emotionally charged, large-scale abstract paintings and was widely regarded as one of the UK’s most underrated postwar artists.

“I wanted this gift to honor Basil’s legacy as an artist and educator,” Kellner explained. “He devoted his life to his students and his craft. This is about paying that forward.”

Reimagining Arts Education

Goldsmiths’ leadership has made clear that the donation is not a panacea, but rather the foundation of a larger strategic pivot. Warden Frances Corner described it as a “vote of confidence” and hinted at plans to build a £100 million endowment fund that would enable the university to reduce its dependence on tuition fees and government funding.

“There’s an urgent need to create a more sustainable model for arts education,” said Corner. “Peter’s gift gives us the breathing room to think long-term, to reinvest in our facilities, our people, and our mission.”

Some of the immediate uses for the cash portion of the donation include scholarships for underrepresented students, maintenance for Goldsmiths’ Centre for Contemporary Art (CCA), and pilot programs in digital arts and interdisciplinary practice. The CCA, which will likely house parts of Kellner’s collection, has struggled with reduced programming in recent years due to funding limitations.

Academic staff and alumni have largely welcomed the news, with many praising the transparency and trust embedded in the gift. “The fact that this is an unrestricted donation is key,” said Professor Rebecca Fortnum, Head of the Art Department. “It gives us the power to invest where it matters most—be that hiring new faculty, supporting student research, or even keeping the lights on.”

A Philanthropic Model for the Future?

Kellner, who has supported a range of causes from prison reform to climate resilience, believes that this kind of unrestricted cultural philanthropy could be a model for future giving. He has called for wealthy art collectors and former alumni to consider similar approaches, especially in light of what he describes as “an alarming retreat” from arts support by government institutions.

“What we’re seeing across the UK is a slow cultural defunding,” he said. “But the arts are not optional. They are essential to who we are as a society.”

The donation also arrives amid rising concern about the sustainability of the UK’s creative industries, which contributed £124 billion to the economy in 2022 but face labor shortages, talent drain, and reduced access to arts education for young people from disadvantaged backgrounds.

In this context, the gift to Goldsmiths is more than just an investment in one institution—it is a statement about the value of the arts in public life.

Looking Ahead

While Goldsmiths has a long way to go before achieving the financial security enjoyed by some of its international peers, Kellner’s donation provides a rare moment of optimism. As the university maps out its next steps, the administration has pledged to include faculty and student voices in how the money—and the art—is used.

“This isn’t just about plugging holes,” said Warden Corner. “It’s about creating something resilient and future-facing.”

Indeed, for students just beginning their creative journeys, the gift offers both symbolic and tangible encouragement. In the words of one fine art undergraduate: “It’s easy to feel invisible as an art student right now. But this gift tells us that someone out there believes in us—and that’s everything.”