The Metropolitan Atlanta Arts Fund, an initiative of the Community Foundation for Greater Atlanta, has announced a two-year, $2.5 million initiative designed to stabilize small and midsize arts organizations facing unprecedented financial challenges.
The Arts Recovery Initiative is supported by grants totaling more than $2 million from the Robert W. Woodruff and Zeist foundations, the Kendeda Fund, and Bank of America. Expanding on the fund's program of grantmaking, management consulting, and loans to strengthen arts groups in the twenty-three-county region, the initiative will include two general operating support grant cycles, rather than one, in both 2009 and 2010. The foundation also announced the initiative's first grants, totaling $500,000, to eleven organizations in six counties across the region, including the Atlanta Chamber Players, Quinlan Visual Arts Center, and the True Colors Theatre Company.
The fund will continue to support its Arts Stabilization Toolbox, which offers professional consulting assistance to help organizations update their strategic and financial plans, implement scenario planning, and build stronger boards. In addition, the maximum size of loans made through the Arts Loan Fund will be increased from $25,000 to $40,000 and the time frame for organizations to pay back loans will be extended.
"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 arts fund director Lisa Cremin. "We are focusing on arts organizations with budgets of 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."
For a complete list of grants, visit the Metropolitan Atlanta Arts Fund Web site.