Royal Academy of Arts
The Royal Academy was founded in 1768, under the patronage of George III, as a Society for the promotion of the arts of design. Its first President was Sir Joshua Reynolds. Since 1769 it has held an unbroken series of annual Summer Exhibitions which are open to all living artists of any nationality and age. At other times of the year the Academy mounts major loan exhibitions and thematic shows of international importance, in addition to the exhibition of its permanent collection. Postgraduate training for some 60 students is provided in the Royal Academy Schools, which were established at its foundation.
The Academy owns a large and comprehensive Library and administers trust funds both for the benefit of artists and for the promotion of the visual arts. It is an independent, self-supporting institution, receiving no direct Government subsidy, and is supported by sponsorship, both through the subscriptions of its Friends, who number over 40,000, and those of its Corporate Members. It has an active fund-raising programme and obtains additional income from its fine art framing service and the retail sales of art books, artists' materials, and specially commissioned works. Members (Painters, Engravers, Sculptors and Architects) – who are designated Senior Academicians, Academicians and Associates – serve in rotation on the Council which directs the activities of the Academy, and its President is elected annually.
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