Access to Capital for Artisit
Submitted by William on Sun, 04/16/2006 - 12:51.
Hello all,
I am currently doing research on access to capital for artist. If you know of any local organizations that provide access to capital for artist please let me know. I am also looking at national models that can possibly be used in Northeast Ohio.
William
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Funding for Artists All depends on how you define artist
We have the foundation center here which provides a lot of support for artists. Of course, it depends on how you define artist (actors, filmmakers, writers, theater, etc.). Traditionally theaters here recieve grants from places like the Cleveland Foundation or the Gund foundation. In seeking capital for artist, there are a lot of sources, but most foundations are specific on who they consider artist and they all have a criteria for funding.
The best thing to do is look at the "artists" in town and see who have funded them.
Sincerely,
Alex P. Michaels
Creating the Digital Media Technology Industry
http://prelude2cinema.pbwiki.com
RSVP to Fundraisers April 27 & May 4
Re: Funding for Artists All depends on how you define artist
Hello Alex,
Thanks for the response. I am looking specifically for funding for fine arts. When I say funding I am talking about equity financing or debt financing not grants.
William
Equity or Debt Financing for Fine Arts
That's interesting. In that sense, then the art has to be treated strictly as a business. What percentage of ownership does the financier receive for their investment? I am dealing with a similar question with regards to my studio. I consider it art and a business. In the terms of people who invest, it is first and foremost a business and they require a Return on Investment (R.O.I).There are important questions that need to be answered. Does the Art have monetary value and will it make a profit. If you can show there is an audience for the art who will pay money for it, then it should just be a question of putting down the information in a business plan.
Yes, with all the typical things as to how much does it cost to produce the art and what is the projected income from it. Then it is a matter of targeting people who will invest.
Like I said, I am talking to some people now so I am dealing with such issues.
In the past, I've gotten money for my art and I do have current sponsors. With art, since it is a riskier business, people have to have a strong belief that there is good reasons for profit ahead. They are investing in the person creating the business as much as the business itself, so it helps to have a past history of creating art. The investors have to know that you will stick to the business and not drop out when it gets hard. Most art takes longer to create than expected, so you have to work on ways to support the business while the art is being created.
In short, I suggest focusing on the business aspects (business plan, research, targeting potential investors and such).
Sincerely,
Alex P. Michaels
Creating the Digital Media Technology Industry
http://prelude2cinema.pbwiki.com
RSVP to Fundraisers April 27 & May 4