Andy Warhol Foundation for the Visual Arts, Doris Duke Charitable Foundation, Surdna Foundation, and the Scherman Foundation's Rosin Fund Provide Anchor Funding for Creative Capital's 20th Anniversary Fund
New York, NY (November 20, 2019) — Since its founding twenty years ago, Creative Capital has been committed to the principle that artists’ voices matter; that they guide us toward the future, illuminate our present, and demystify our past. And as the needs of artists continue to evolve, Creative Capital continues to grow to meet them. It is with that in mind that Creative Capital is pleased to announce its move to a fund-based model of support, launching with its 20th Anniversary Fund, a $15 million fundraising initiative to sustain its operations over multiple years.
The Fund is inspired by models in the social enterprise sector of building longer-term resource structures to enable organizational stability, long-lasting partnerships, and the flexibility to pursue new methods of philanthropy. It entails securing high-level, multi-year support from individuals, foundations, and corporations, and includes anchor funding from the Andy Warhol Foundation for the Visual Arts, Doris Duke Charitable Foundation, Surdna Foundation, the Scherman Foundation's Rosin Fund, Toby Devan Lewis, Lambent Foundation, and the Creative Capital Board of Directors.
As Creative Capital is not an endowed foundation, the funding and support it provides to artists is only made possible by the generosity of donors likewise committed to the organization’s mission. The 20th Anniversary Fund is the latest move in the ongoing innovation of Creative Capital’s fundraising model as it seeks new and innovative modes of sustainability.
Among those new approaches is Creative Capital’s investment of $100,000 in the Local Initiative Support Corporation’s (LISC) NYC Inclusive Creative Economy Fund. Launched in partnership with Upstart Co Lab, LISC is the first targeted investment opportunity benefiting artists and other creatives in New York City. By financing affordable creative workspaces, LISC seeks to support quality middle-skill jobs in the 21st century creative economy while maintaining the character and vibrancy of the city. Central to Creative Capital’s mission is the strengthening and development of artistic communities across the United States, and this new investment provides an innovative avenue to pursue that goal while contributing to Creative Capital’s own long-term sustainability...