The MacArthur Foundation is increasing the value of its annual "genius grants" to $625,000.
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CHICAGO, Ill. - The MacArthur Foundation is increasing the value of its annual "genius grants" to $625,000.
The Chicago-based foundation announced the decision Tuesday. Previously, grants of $500,000 have been awarded to winners who work in fields including music, medicine, the arts and journalism. The foundation last increased the grant in 2000.
MacArthur reports that it surveyed past recipients and that most said the grants improved their financial stability and increased their opportunity for creativity. The winners thought the amount of the stipends was adequate.
But some asked for more help responding to the huge boost in visibility the grants brought them. The foundation plans to "explore ways to better support new Fellows as they cope with the sudden increase in public attention."
The next genius grants will be announced Sept. 25.
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