You weren't dreaming Fred, I found the article. I can't read it or copy it here 
though because I don't have the required subscription to Time. Maybe someone 
else on the list can help share? My curiosity has been activated.

http://content.time.com/time/magazine/article/0,9171,939493,00.html

> Cinema: In the Year of Our Ford
> Friday, Apr. 03, 1964
> 
> No one has heard much about movies like Breath-Death, Cosmic Ray, and Stone 
> Sonata, but now the Ford Foundation has begun pouring tuns of gold on the 
> happy heads of the people who made them. The foundation has decided to 
> encourage the art of film as practiced by lone stylists whose pictures are 
> usually brief, almost always 16-mm., and sometimes comprehensible only to 
> themselves.
> Accordingly, Ford sought a list of 177 candidates, invited them to send 
> sample films, then picked twelve winners. Most got $10,000. The total grant 
> was $118,500.
> 
> Presumably, the foundation screened...
> 
> [To continue reading: Log-In]
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