Thursday, November 29, 2007

Just thinking out loud...

So, I am just thinking out loud here, but I have been thinking about the creative process and the current funding models for artists and their projects. My favorite funding model (of course) is that of Creative Capital. They award an initial grant and then can provide follow up grants during key points of the project to take advantage of new opportunities and to ensure its success. They also (I love this part) focus on developing the artists career long term by developing the artist. They provide workshops on professional development which teach fundraising, strategic planning and pr/marketing (I happen to know a lot about these workshops). They also provide extensive one on one consultations, referrals to other professionals and an extended network. They really nurture the whole artist. What this does is ensure that the artist's career is successful beyond any single project.So here's what I am thinking - and it is still a little muddy - why not create a loan program that operates in a similar way. Loan artists project monies, train them to ensure the project is successful and as their careers blossom they pay the money back (CC asks all grantees to reinvest - once they reach some level of success many of the artists give donations to CC). Maybe this loan program can be combined with the Artist Pension Trust model? Their model requires participating artists to donate artworks to a pool which is sold after a number of years in which the participating artists' value is expected to increase, then the entire pool of artists shares the proceeds.So maybe the loan program takes in artworks as payment as well. There is certainly some risk involved, and some works will end up with greater value than others, but it may indeed be worth the risk. (Predicated on having object based work or ancillary product to sell).
Anyway, like I said, just thinking out loud here...

Images, top to bottom:
Chris Doyle, "Leap," Creative Capital Grantee & Artist Pension Trust Participant
Sanford Biggers, "Kalenda" (mistitled on photo),
Creative Capital Grantee & Artist Pension Trust Participant

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