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PHILANTHROPY NEWS DIGEST, "Creative Capital Receives $15 Million Grant From Warhol Foundation"

May 14, 2009



New York City-based Creative Capital has announced a ten-year, $15 million matching grant from the Andy Warhol Foundation for the Visual Arts in recognition of the organization's tenth anniversary. The grant from the foundation, which was greatly involved in the launch of Creative Capital a decade ago, will help ensure the organization's long-term sustainability; its ability to support innovative, adventurous projects by artists across the country through its core program; the expansion of career development workshops for artists beyond its roster of grantees; and the means to attract new donors. Creative Capital provides support for approximately forty new projects over a three-year period in fields such as film/video, innovative literature, and performing and visual arts. During its first decade, Creative Capital helped support 324 projects by 411 artists, committing more than $14 million in financial support and services to its grantees, who went on to raise an additional $8 million for their projects. The organization has also helped some 2,200 artists through professional development workshops across the country. "As the premier artist support organization in the country, Creative Capital fills a needed gap in the fabric of our cultural landscape," said Warhol Foundation president Joel Wachs. "We recognize the critical importance of supporting individual artists, to bring the next generation of artists forward, and to ensure that the institutions and organizations that anchor our communities continue to have the dynamic programming that engages its audiences."

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