Funds for the Foundation were raised through the sale of property and art works in William Dobell’s estate.
An initial sum of approximately $260,000 was invested and since its establishment the Foundation has contributed in excess of $6 million dollars towards activities in many areas of the arts.
The first public venture of the Foundation was to commission John Olsen to design a large mural for the harbour-side Northern Foyer of the newly opened Sydney Opera House.
The mural, which was based on the poem “Five Bells” by Kenneth Slessor, has become a much loved landmark over the past forty years.
Other major contributions include: The Dobell Prize is an acquisitive award, with the gallery keeping past winners in the permanent collection.