[net.invest] Investing in Artists

marks@yogi.DEC (11/06/85)

I have no idea how off the wall this notion is, but:  I have a friend
who is a sculptor, a graduate of a reputable art college, who would like
to open up his own studio.  Like most artists, this person has 
"very little"
working capital (in other words, he is penniless).  The guy is good, very
good.  He has been exhibited.  He has sold.  However, after looking into
grants from the public sector, he discovered the lion's share of them are
for non-profit arts groups, like museums, collaboratives, schools, etc.
There is very little money available for individuals.

My question is this:  are there organizations that coordinate the matching
up of artists with backers?  Does such a thing exist?  Or does one luck into
it merely by word of mouth and being in the right place at the right
time?  Are there any institutions that seek out such investment in artists,
or is there any place a person like this can start?  He has tried for a bank
loan, but except for his equipment there is no collateral, and banks tend
to take him not too seriously.

Any information would be much appreciated.  Thanks.

R.M.

shuju@videovax.UUCP (Shuju Burgess) (11/16/85)

> 
> I have no idea how off the wall this notion is, but:  I have a friend
> who is a sculptor, a graduate of a reputable art college, who would like
> to open up his own studio.  Like most artists, this person has 
> "very little"
> working capital (in other words, he is penniless).
> ...
> My question is this:  are there organizations that coordinate the matching
> up of artists with backers?  Does such a thing exist?  Or does one luck into
> it merely by word of mouth and being in the right place at the right
> time?  Are there any institutions that seek out such investment in artists,
> or is there any place a person like this can start? 
> 
> Any information would be much appreciated.  Thanks.

I don't know if I can help much here, but I recently read in the Oregonian
about an organization which provides funds for artists so that they can 
concentrate on their work and not have to worry too much about money.   The
amount that they gave out to this one particular women was considerable(~30K).
I believe it's a national organization as this woman used to live in Oregon
but now resides in California, and is still getting an yearly sum. 
Of course the competition is fierce, but if your friend is good, it's 
worth the try.  I wish I could tell you the name of the organization, but
I have forgotten.  The article appeared within the last month or so, I suppose
you could try to look it up if that's possible.  The other thing that I would 
suggest is to find out what programs the well funded museums have for lending 
artists a helping hand.   For starters try: Metropolitan Museum, Museum of 
Modern Art, Smithsonian Modern(?) Art Museum (sorry can't remember the name), 
Whitney and Guggenheim(sp?) (both of NYC), Cleveland Museum,...etc, etc.  The
list goes on, and you can work your way west.  Your friend might've tried this
already, in which case, I'm sorry I wasn't any help.  

Good luck!

Shu-Ju

bobn@bmcg.UUCP (Bob Nebert) (11/21/85)

> > 
> > I have no idea how off the wall this notion is, but:  I have a friend
> > who is a sculptor, a graduate of a reputable art college, who would like
> > to open up his own studio.  Like most artists, this person has 
> > "very little"
> > working capital (in other words, he is penniless).
> > ...
> > My question is this:  are there organizations that coordinate the matching
> > up of artists with backers?  Does such a thing exist?  Or does one luck into
> > it merely by word of mouth and being in the right place at the right
> > time?  Are there any institutions that seek out such investment in artists,
> > or is there any place a person like this can start? 
> > 
> > Any information would be much appreciated.  Thanks.
> 
In a paperback book by Matthew Lesko called "Getting Yours - The complete
guide to government money", page 197 in the section called "National
Foundation on the Arts and the Humanities" program # 45.009 is:

PROMOTION OF THE ARTS--VISUAL ARTS
Type of Assistance: Grants ranging from $500 to $50,000.
Applicant Eligibility: Individuals, nonprofit organizations, state and
		       local governments.
Objective: To provide grants to assist painters, sculptors, craftsmen,
	   photographers and printmakers.

CONTACT: Director, Visual Arts Program, National Endowment for the Arts,
	 2401 E Street, N.W., Washington DC 20506   202-634-1566.

I suggest getting the book cause it's full of related areas. You might have
your friend put in for a couple of related grants. It also tells you short
cuts and how to fill the forms out correctly( thats the important part
anyway)

Have fun
		   -----sdcsvax!bmcg!bobn