The Royal Academy of Arts
One of the most prestigious art institutes in the world lies in the middle of the most expensive district in the world; Mayfair, in the heart of London. The Academy as it is known, is funded privately by preeminent artists, architects and other well to do patrons of the art society, as was established in 1768 by an act of King George III, with a mission committed to preserving the art of design with dual emphasis on exhibition and classical education. It is ranked as the 11th most popular visitor destination of the whole of the UK.
As 18th century taste tended toward the archaic, many contemporary artists were suffering from a lack of patronage and a lack of resources for critical fine art education. During its history, the Academy has steadfastly served this interest, and has grown substantially, moving its headquarters multiple times, each time into a progressively larger estate. Currently it is located in the Burlington House, on Piccadilly.
The Academy does not currently receive any funding whatsoever from the state or the Monarchy; it is entirely privately funded and maintained. Along with sponsorships from private art patrons, it also collects a share of its funding through sponsorships from trade conducted through its Board of Friends and Corporate Members. Many of the industries that support the Academy, in some form or another have been formally served by the Academy.
The Academy also receives a fair share of its operating income from temporary loan exhibitions, art sales, and visitor ticket sales, and small private donors. The Academy has also historically been the benefactor of a variety of trusts that have either bequeathed gifts, money or art objects in the name of the donor. These funds surely go a long way to supporting the Academy in the Heart of the Wealthiest District in the entire world. Visitors that can afford this sector should have no trouble finding London hotels in the Mayfair district to their liking, and nearly all Mayfair hotels cater to tastes of those seeking high end shopping, museums, and eating establishments.
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