The Forum of the Arts was founded on November 30, 1961 and was the first group in Ventura to support local artists and arts organizations. The purpose of the Forum was to advance the interest, influence, and usefulness of the arts in the community by providing a creative outlet. It did this through an art lending program, art shows, and competitions (which became the Assembly of the Arts held at MVC) and a grants program. The Forum also furnished education facilities. It was also the first arts organization to offer grants to the local arts community.

Through the Forum of the Arts came the first effort to establish a downtown cultural facility at Grant Park. By 1987, the activities of the Forum had discontinued with exception of the annual grants program, which was administered by a Board of Directors. In that year, the board elected to dissolve the Forum, and leave the endowment and responsibility for the grants program in the stewardship of the Fine Arts Committee of the Ventura County Museum of History and Art. At that time the endowment for the grants program was $25,000. The endowment corpus was transferred to the Ventura County Community Foundation for investment, with the understanding that the Museum would continue to administer the grants program.