Prize is named after actor's father

Tribeca Film Institute will administer the new Robert De Niro Sr. Prize, to be awarded annually to a mid-career American painter.

De Niro Sr. was a visual artist who was part of the New York School. Announcement of the new kudo was made at a Gotham reception Wednesday night by Robert De Niro, the artist’s son and co-chair of the TFI board, with Megan Fox Kelly and Jeffrey Hoffeld, advisers to the estate of De Niro Sr.

De Niro will fund the award’s $25,000 cash prize, to be handed out for the first time in 2011.

Kudo aims to honor an American artist whose work reps a significant contribution to the field of painting. A selection committee will be tapped to name three finalists for the award as well as the winner.

TFI, the nonprofit arts org co-founded by De Niro, Jane Rosenthal and Craig Hatkoff, is affiliated with media company Tribeca Enterprises, which operates the Tribeca Film Festival.

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