Leaders at OSF and Woolly Mammoth will each receive $500,000 and will join a distinguished cohort of female leaders.
20 stage and film artists will receive $5,000 each through the new program.
The grants, ranging from $10,000 to $25,000, are going to support new work from BIPOC and/or LGBTQ+ artists.
The annual festival will feature six public readings and three invite-only presentations.
The program will be overseen by resident artist Jade King Carroll.
The inaugural recipient is Tyla Abercrumbie, whose work will receive workshops and readings at Raven.
The award will provide free legal assistance to five artists applying for O-1B Artist Visas.
This year, USA named 7 theatre and performance artists as part of its largest ever fellowship class.
Theatre companies across the country and in Mexico City will participate in RomeroFest.
The physical theatre company will provide relief to 32 affiliated artists.