June 01 , 2009
The Community Foundationís Metropolitan Atlanta Arts Fund
(ATLANTA) – The Metropolitan Atlanta Arts Fund today announced the Atlanta Arts Recovery initiative – a two-year, $2.5 million program designed to keep metro Atlanta’s small and midsized arts organizations stable as they face unprecedented financial challenges. The Arts Fund, an initiative of The Community Foundation for Greater Atlanta, also announced the first round of 2009 grants to arts organizations in the 23-county region.
Expanding on the Arts Fund’s previous program of grantmaking, management consulting and loans to strengthen arts organizations, the Atlanta Arts Recovery initiative will include two grant cycles each year in 2009 and 2010 with each cycle distributing $500,000 in general operating support. Professional consulting projects through the Arts Stabilization Toolbox awards will help organizations implement scenario planning, update strategic plans, build stronger boards and improve financial plans. In addition, the Arts Loan Fund will increase the maximum size of loans from $25,000 to $40,000 and extend the timeframe that organizations have to pay back loans. The Arts Fund is encouraging arts organizations to consider implementation of new program or operating models that help them adapt to the new economic environment.
“Our goal is to strengthen and support nonprofit organizations in the 23-county region,” says Alicia Philipp, president of The Community Foundation. “Providing general operating support, management consulting and loans to arts organizations allows them to focus more on creating new ideas and tools for their business while we support operations. We look for organizations that demonstrate good planning, produce exciting programs embraced by the community and exhibit a willingness to collaborate and adjust.”
Carol Tomé of Home Depot and Bahnson Stanley of Ellis, McQuary & Stanley are co-chairing the fundraising drive for the Atlanta Arts Recovery initiative. The first funding partners of the initiative are the Robert W. Woodruff Foundation, the Kendeda Fund, Zeist Foundation and Bank of America providing a total of over $2 million. “We are pleased to support this initiative to strengthen the arts during challenging times. The arts are an essential part of a healthy Atlanta,” said Russ Hardin, president of the Woodruff Foundation.
“Our purpose is to keep the arts a part of our region’s vitality, providing education and vibrant programs while offering creativity and fresh ideas during a new and challenging time,” said Lisa Cremin, Arts Fund director. “We are focusing on arts organizations with budgets less than $2 million a year; these organizations do not have endowments or a financial cushion. With this enhanced funding, the Arts Fund will support arts organizations with great plans to adapt during this crisis so they can continue to provide innovative programs.”
The first grants, totaling $500,000, were awarded today to 11 arts organizations in 6 counties across the region. Ranging from $10,000 to $75,000, the grants will support general operations, giving the recipients the flexibility to address their most pressing needs.
The Community Foundation for Greater Atlanta connects donors, nonprofits and community leaders to strengthen the Atlanta region through philanthropy. We do this by providing quality services to donors and innovative leadership on community issues. In 2008 The Community Foundation awarded more than 4,600 grants totaling an estimated $75 million throughout 23 counties in the greater Atlanta region. For more information please visit www.cfgreateratlanta.org.
The Metropolitan Atlanta Arts Fund is a partnership between the Metro Atlanta Chamber of Commerce and The Community Foundation for Greater Atlanta providing support to small and midsized arts organizations in the 23-county region. Since 1993, the Arts Fund has funded more than $7 million in grants and management consulting awards to 84 arts organizations, creating more than 50 new staff positions in arts groups across the region. www.MetroAtlantaArtsFund.org
Learn More About The Arts Fund:
© 2009, Metropolitan Atlanta Arts Fund. All Rights Reserved. | | 50 Hurt Plaza, Suite 449, Atlanta, GA 30303 p: 404.688.5525 f: 404.688.3060