Expanding on the Arts Fund’s 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.
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 $1.9 million.
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.
Click the links below to hear and read media coverage on the Atlanta Arts Recovery initiative.