The Festival of Arts with a $1.5 million donation established the Laguna Beach Festival of Arts Foundation, a California nonprofit public benefit corporation, in order to guarantee annual financial support for the arts in Laguna Beach. Today, the Foundation awards grants to local art organizations.
Co-founded by John Rayment and David Young
The earnings and income from this permanent endowment for scholarships to graduates of Laguna Beach High School and grants to nonprofit art organizations and educational institutions in and about the city of Laguna Beach.
Foundation now operates independently
In 2007, Festival of Arts resumed responsibility for the funding and administration of scholarship awards.
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