The Coby Foundation, Ltd., was established in honor of Irene Meladakis Zambelli by her daughter, Irene Zambelli Silverman. Its mission is to advance and support the field of textile and needle arts. Funded projects should exhibit excellent scholarship and interpretation, whether in the arts or humanities, and must benefit the public. Since 2002, it has awarded over $5 million to more than 170 projects, focusing on exhibitions, programs, research, conservation, and publications in the Mid-Atlantic and New England areas.
The Coby Foundation offers grants specifically for exhibition implementation and planning in the textile and needle arts field. It encourages applicants to first submit a letter of inquiry with project descriptions, timelines, and budget details. Grants are reviewed three times a year and are designed to cover direct project costs. Funded projects should combine excellent scholarship with effective interpretation, contributing to the public's understanding and appreciation of textiles and needle arts. This may include support for exhibitions, both contemporary and historical, as well as related research, documentation, conservation, and digital projects. Additionally, the Foundation occasionally supports non-profit presses in its region with peer-reviewed monographs and essay collections related to fashion and textiles.