Nancy Olnick and Giorgio Spanu are longtime patrons of the arts both in New York and in Europe. The numerous organizations they support include Casa Italiana Zerilli-Marimò at New York University, CIMA (Center for Italian Modern Art), MANITOGA / The Russel Wright Design Center, the Metropolitan Museum of Art, the Museum of Arts and Design, the Museum of Modern Art, Whitney Museum of American Art, Fattoria di Celle–Collezione Gori, ICA Milano, Collezione Danna e Giancarlo Olgiati, Castello di Rivoli, and many others.

Together they have built significant collections of modern and contemporary art, arte povera, and Murano glass. Their deep interest in the built environment led them to commission Miguel Quismondo to design Magazzino Italian Art, an award-winning exhibition space in the Hudson Valley, New York. Magazzino is also home to more than 7,000 archival works and publications and hosts an annual scholar-in-residence program, inviting academics to pursue independent projects contributing to research in the postwar and contemporary Italian art fields.

On June 4, 2018, Giorgio Spanu was bestowed the Insignia of Knight of the Italian Republic.