Identifying Resources & Funding Strategies for Artists and Arts Groups 2.0
Download as PPTX, PDF•2 likes•1,015 views
This presentation focused on various funding strategies for individual artists, including grants, fiscal sponsorship, contributions, and crowd funding. It discussed researching and applying for grants, the benefits of fiscal sponsorship such as gaining 501(c)3 status, and cultivating relationships to solicit contributions from friends and patrons. Crowd funding platforms like Kickstarter and IndieGoGo were presented as a way to publicly aggregate fundraising efforts. Tips for running a successful crowd funding campaign included creating an engaging video, scaling giving levels and incentives, maintaining momentum, and following through on promised benefits.
Identifying Resources & Funding Strategies for Artists and Arts Groups 2.0
- 2. Funding Strategies for the Individual Artist Grants Contributions Fiscal Sponsorship Thinking outside the box With Jenni Rebecca Stephenson, Fresh Arts
- 3. Money is ALWAYS the issue. So, where do you find it?
- 4. This presentation will focus on: Grants Fiscal Sponsorship Contributions Crowd funding
- 5. Know your strengths …and weaknesses
- 6. Your answers will help shape your strategy If you answered yes to the first few questions (i.e. you feel comfortable “working it”), your tactics need to be different than someone who would prefer writing a dissertation!
- 7. A comprehensive strategy is ideal. But given the demands on your time (time better spent in a studio or practice room), you need to prioritize based on your skill set and instincts.
- 8. Let’s start with the good written communicators… Types of support: •Public •Private •Direct •Indirect
- 9. Grants usually come from private foundations or from governmental agencies. (Direct) OR from contracted organizations who function as a gateway for other (often governmental) funding- i.e. Houston Arts Alliance. (Indirect) *There is usually more indirect support available for individual artists than direct.
- 10. •Award artistic achievements • Foster emerging artists as they develop their skills • To support specific projects •Who’s going to benefit? •How much money will you need? •What types of support do you need? •And are you comfortable with the conditions?
- 11. Consider: • Discipline or medium • Does your work cater to a specific audience? • Background and affiliation (career stage?) • Location • Ethnicity/gender What is your best angle? Examples: Doris Duke & Lydia Hance / Amegy Bank & Winter Holiday Art Market
- 12. One word: GOOGLE. Be specific in your queries. Start narrow, then open up your criteria. “individual artist grants Houston Texas” will obtain better results than “arts grants” Specificity will help narrow down the results to those for which you’re ELIGIBLE.
- 13. There are MANY clearing houses for grant information (local arts agencies, service organizations like Fresh Arts (Spacetaker), professional associations, etc.). Pro? They weed out the less desirable opportunities. Con? A lot of their information can be incorrect and/or outdated.* *We do the best we can!
- 15. Best resources will be specific to each artist. Remember: there are no one-stop shops! Dedicate a few hours to research at least every 2 months or so. Sign up for every artist resource newsletter you can find. (Create a junk email address for this & discipline yourself to check it once every 2 weeks.) Create a binder of potential grant opportunities with tabs for each (organize by submission deadline &proposal format)
- 16. Creative Capital http://creative-capital.org/ United States Artists http://www.unitedstatesartists.org/Public2/Home/index.cfm National Performance Network http://www.npnweb.org/ The Foundation Center http://foundationcenter.org/pnd/specialissues/content.jhtml?id=8300121 The Foundation Center subscription service ($20/month) http://foundationcenter.org/findfunders/fundingsources/gtio.html (May be available at local libraries: http://grantspace.org/Find-Us ) Sign up for alerts: http://foundationcenter.org/pnd/rfp/ NYFA Source: http://www.nyfa.org/source/content/search/search.aspx?SA=1 Art Deadlines List: http://artdeadlineslist.com/ (old school) Chicago Artist Resource: http://www.chicagoartistsresource.org/callforartists
- 17. Remember: Time is money! * Again, some of these resources are available in your local library!
- 18. Consider timelines. …And how they relate to your motivation. Are you searching for a grant to fund a specific project you already have in mind? (And is it time-sensitive?) Are you open to the project parameters dictated by the funder? Grant cycles can be as long as 1-2 years ahead.
- 19. Example… Individual artist grants from Houston Arts Alliance GRANT TERM: March 1, 2012–December 31, 2012 Dec 2011: Application & Materials Due Feb 2012: Project/Fellowship Panel Review March 2012: Award Notification March 2012: Contract, Artist W-9 & Venue Confirmation Due March 2012: 1st Payment June 2012: 2nd Progress Report (2nd Payment) Sept 2012: 3rd Quarter Progress Report Due (3rd Payment) Feb 2013: Final Report Due (Final Payment)
- 20. Timing of project & grant payment (budgeting) is key. Keep in mind that frequently funding is received AFTER the project is completed, which means the up-front investment (materials, etc.) is YOUR responsibility. Is this a deal-breaker? Do you have a means to cover these initial expenses? Do you have a well-defined budget including all project costs? (Include marketing!)
- 21. Consider all scenarios. You’ve applied for the grant, but… If you are awarded the grant, are you 100% committed to fulfilling the project? If awarded a portion of the funds requested, are you still committed? Are your collaborators 100% confirmed? Is the venue confirmed? If project involves others, consider drafting a Memorandum of Understanding (MOU).
- 22. Obtain a contact person for the grants which catch your eye Develop a relationship with funder & contact them in ways they prefer: Don’t know? Ask! Review previously funded projects Get an idea of what they’re looking for Have they already funded a project EXACTLY like yours? Some funders post previously funded proposals!
- 23. Resources on grant-writing: Grant Space (service of the Foundation Center) http://grantspace.org/Skills/Developing-Proposals Fresh Arts (Spacetaker) Artist Resource Library http://www.spacetaker.org/artist_resource_center ARC Workshop: Crafting Artist Statements & Project Descriptions for Artists (May 30th @ 6pm)
- 24. This is HUGE for individual artists! Pay careful attention to requirements: Some won’t fund degree-seeking artists. Some won’t fund “interpretive” artists. Some fund only specific aspects of projects. Some require 501(c)3 status…
- 25. What to do about that 501(c)3 status? …is one option. Definition (from our friends at Wikipedia): “…the practice of non-profit organizations offering their legal and tax-exempt status to groups engaged in activities related to the organization's missions; typically involving a fee-based contractual arrangement between a project and an established non-profit.”
- 26. Comprehensive Fiscal Sponsorship: Fiscally sponsored project becomes a “program area” of sponsor org. Pre-approved Grant Relationship Fiscal Sponsorship: Fiscally sponsored project has its own tax and liability issues; sponsor oversees only to assure grant/donated funds are used for specified project. (most popular variety)
- 27. Fractured Atlas www.fracturedatlas.org/ The Field www.thefield.org/ NYFA www.nyfa.org (New York Foundation for the Arts) *Be careful here! Some (not all) funders want fiscal sponsor in same state as the granting institution.
- 28. All contributions need to be filtered through your fiscal sponsor (Usually 7-10 day turnaround.) To apply for grants, you either apply individually (with a letter of affiliation) or through a special grant system set up by the fiscal sponsor (…Like the Multi-Art Project Fund from the Rockefeller Foundation)
- 29. Grantspace.org http://grantspace.org/Skills/Fiscal-Sponsorship (skill area for fiscal sponsorship) Examples of policies & guidelines, ways to approach fiscal sponsors… http://grantspace.org/Skills/Fiscal-Sponsorship
- 30. Annual % of Fees Donations (Membership) Taken Ease of Use Taxation Grants Benefits Pro Easy: develop- Detailed P&L, ment& The Field 5-8% after but no 1099 to No initial services in $250 $10,000 receipts artist investment NYC Pro dev online; Access to Fractured More group Detailed; Must raise health & Atlas receipts 1099 to $1,000 to liability $95 6% required artist begin insurance
- 31. Access to grants/services designed for the individual artist (particularly The Field) A degree of legitimacy (depending on the fiscal sponsor) Ability to apply for more grants A TAX DEDUCTION for your contributors
- 32. The door has now been kicked open to approach individual funders: philanthropists, family foundations, etc. The goes back to the original question: where do your strengths lie? If confident in yourself and your work (as well as have strong interpersonal skills and network), seeking individual donations is a good option.
- 33. Patronage is NOT dead… patronage simply tends to go to individual/personality-driven nonprofits, rather than to unaffiliated individuals. ArsLyrica
- 34. Fundraising, whether for a nonprofit or for yourself, is about RELATIONSHIPS. Start with your friends. Your friends, family, and colleagues are the foundation for a support network. Their support can also be used to leverage OTHER funds.
- 35. Two examples: Photographer David Brown raised $8,000 to fund his trip to France for Lens Culture FotoFest Paris to meet with curators & photo editors Local band Two Star Symphony raised over $7,000 to fund studio time to record the score for their collaboration with Dominic Walsh Dance Theatre Both almost entirely from individual contributions!
- 36. What do these 2 projects have in common? Money was raised for a very specific purpose Both are generally regarded as creating new, innovative work Both have received significant press coverage Both parties went above and beyond a simple email appeal
- 37. Cultivating advocates to support you and your work: Stay in regular contact with those who buy your work or attend your shows Communicate with patrons in a way that’s not esoteric, sophomoric, or needy Keep it casual and low pressure When someone does you a favor, thank them (consider small art gifts) Explore commissions; they’re a great way to develop relationships
- 38. Think of the long haul Recognize your champions; treat them as such Work on developing relationships BEFORE you need something Consider that even someone who might not be able to afford your work might be willing to support you Developing a supporter base doesn’t happen overnight. Ask yourself: What can I do TODAY to move the ball forward?
- 39. Think it’s tacky? Welcome to fundraising! Most cultural institutions survive on donations. The average performing arts org only covers 60-70% of its expenses with sales revenue. If working independently, it is likely your situation is no different! Embrace the reality… And consider that many will happily support your projects if only asked.
- 40. Crowdsourcing allows you to present a project to a cultivated audience to seek funding. It’s an online platform to aggregate any fundraising efforts. Popular Options: Kickstarter www.kickstarter.com IndieGoGo www.indiegogo.com Crowdrisewww.crowdrise.com/online-fundraising Crowdsourcing is less direct & can make the artist/donor relationship more comfortable.
- 41. From Glasstire: Prompt: A New Hope-- Kickstarter! •It's great. Artist as entrepreneur. (65%, 13 Votes) •It's digital panhandling. (25%, 5 Votes) •Voxpopuli, voxdei. (5%, 1 Votes) •To boldly fund where nobody has funded before!(5%, 1 Votes) Total Voters: 20
- 42. Showcases the campaign in a public forum Expresses the fundraising campaign’s need Presents the fundraising goal Aggregates & showcases fundraising activity Incorporates social media, allowing donors to engage with & share your fundraising message
- 43. All campaign info lives on crowdsourcing site Campaign owner (you) designs giving levels & corresponding “perks” for donations All donations filtered through site Receipts & campaign updates go through site Crowdsourcing site retains a portion of the proceeds (% to site, % to any 3rd party processors, etc.) Funds disbursed after campaign is completed to your Paypal or bank account
- 44. % of donation Benefit for giving If you fail… Kickstarter 5% (plus CC fees) Agreement b/w All $ returned to artist & funder funders IndieGoGo 4% if goal met; Tax deduction + % of funds 9% if goal NOT met Artist/funder retained agreement
- 45. How to launch a successful IndieGoGo campaign (Tips care of Two Star’s Jerry Ochoa)
- 46. 1. Make a video: low tech is OK! Introduce yourself, demo the project, explain (briefly/succinctly) why it matters, & personalize the ask 2. Scale giving categories & incentives to fit fundraising goal (Don’t aim too low) 3. Assemble a team: Identify advocates for the project & campaign and give them ownership 4. Maintain momentum: coordinate giving strategically to maintain appearance of momentum
- 47. 5. Do the legwork: IndieGoGo is only a tool; blast through emails, make phone calls, fundraising receptions, etc. 6. Make donating as convenient as possible: if they say they’ll donate, make it possible for them to do it NOW 7. Take advantage of Fractured Atlas: the tax donation is a great incentive 8. Follow through: campaign allows you to test the scope of your support; stay on schedule and deliver both the project & the promised benefits ASAP Thank them several times & stay in touch!
- 48. Be specific. Patrons want to know the scope &specifics of the project. Visuals and examples speak volumes. A defined project and goal is both actionable and attainable.
- 49. Leverage a successful campaign into a consistent strategy to cultivate an ongoing network of supporters and advocates. And remember, whether it be grants or donations, consistency & persistence are KEY. Keep trying!
- 50. In your inbox This PowerPoint Tips for a successful IndieGoGo campaign (care of Two Star Symphony’s Jerry Ochoa) List of grant resources (Links to articles with Best Practices; Clearing houses to find opportunities) Info about upcoming workshop on Writing artist statements & project descriptions withTaceyRosolowski Survey