Creative Capital Builds for Years Ahead on 20th Anniversary
Creative Capital Announces Move to New Three-Year, $15 Million Fundraising Model, $10 Million Pledged
Will Support Newly Expanded Annual Award Cycle
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.
“2019 has been a year of tremendous growth and excitement at Creative Capital,” says Suzy Delvalle, President and Executive Director. “From the announcement of our new annual award cycle to the pursuit of new ways of sustainably supporting artists, we’ve been celebrating our 20th anniversary by laying the groundwork for the 20 years to come.”
2019 has seen Creative Capital directly engage with local artistic communities across the country, from gatherings in Oakland and at the New Orleans Film Festival to collaborating with The Community Foundation of Louisville’s Hadley Creatives. Moving forward into 2020, Creative Capital will be deepening and reshaping the ways it works nationally, with artists and cultural ecosystems across the United States.
Creative Capital’s next class of awardees will be announced on January 15, 2020. The Creative Capital Awards provide $50,000 in project funding, supplemented by an additional $50,000 in career development services, for a total value of $100,000. Earlier this year, Creative Capital announced the expansion of its awards and artists retreats to a new, annual cycle.
The organization is also paying tribute to the artists whose work it has supported over the last 20 years in a series of essays published monthly in the Los Angeles Review of Books. The twelve essays will cover each year of Creative Capital Awardees thus far, including reflections from such acclaimed writers and critics as Johanna Fateman, Orit Gat, Greg Youmans, Claudia La Rocco, and Andrew Russeth. The authors of all twelve of the essays are Arts Writers Grantees from previous years. The first two pieces in the series are available here.
Since its founding in 1999, Creative Capital has supported 561 projects representing 700 artists with over $45 million in funding; professional development opportunities; legal, financial, and other consulting; artist retreats and gatherings; and more, with the aim of fostering and developing artistic exchange and a thriving cultural commons across the United States.
Director, Cultural Counsel
Director of Marketing & Communications, Creative Capital
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