Your portfolio is a valuable tool in your arsenal as an artist, and it is often the first opportunity you have to impress and influence those in charge of making the decisions and choices that affect you and your work. By developing and preparing a professional portfolio, every artist is taking a step towards ensuring her or his own success.
In Money Basics, we asked you to figure out a very basic math question. Namely, how much do you spend?
Now, in Spending Basics, you'll get to analyze some of your spending routines. Specifically, you'll be looking at the basics of buying a home, purchasing a car, and the way you use a piece of plastic called a credit card to buy nearly everything else.
A budget is simply a plan for how you earn, spend, save and invest your money. Creating your budget is one of the first things you should do as you begin to organize your personal finances.
Why? Because having a budget is the key to making your money work for you. Until you actually calculate how much money you earn after taxes - and until you figure out how much money you spend every month - it's impossible to establish a savings or investment plan that will work.
in 2002, the New York Foundation for the Arts (NYFA) and the Craft Emergency Relief Fund (CERF) co-hosted a roundtable in New York City of emergency funding and service organizations from across the United States. Following is a discussion of the issue, as well as a list of organizations that offer emergency assistance for artists.
1. What is the difference between copyright and trademark?
A trademark is a word, phrase, symbol, or design, or combination thereof, which serves to identify and distinguish a source of goods or services of one party from another. A copyright protects original works of authorship, including literary, dramatic, musical, artistic and certain other intellectual works.
2. How do I copyright my work?
Grants are only one piece of pie for artists. They are one part of a whole strategy that you come up with for yourself.
From filmmakers to choreographers to graphic designers, the issue of incorporation appears daunting at first, but can be more straightforward than most artists think.
The arts stimulate the senses, and the opportunity to create a marketing tactic for your work can be as challenging and fun as creating the work itself.
Have you ever heard the classic George Harrison song, “My Sweet Lord”? It goes something like: “I really want to see you / Really want to be with you / Hallelujah / Hare Krishna. . . .” In 1976, United States District Court Judge Richard Owen, arguing that Harrison had heard the song’s melody in someone else’s song long before having written his own, ruled that Harrison was guilty of copyright infringement.
This column addresses the issue of contracts between artists, galleries and collectors. A contract is the essential tool that informs both parties of their responsibilities and objectives. If you and your gallery/collector work well together, you will rarely, if ever, refer to it.
Every time you send off a portfolio of your work to a gallery, curator, grant program, slide registry or other such person or entity, you take the risk of being rejected and disappointed.
Pay yourself! This is a new concept for some artists, but it's smarter to figure out now what your time is worth, represent this time in your project budget, and raise money based upon these real costs than to underbudget the project and wind up maxing out your credit cards with expensive, last-minute charges and cash advances.
You’re an artist, so you don’t have to worry about some of the constraints that come with running a business. Or do you? Unfortunately, concentrating solely on the process of creating your art is not always possible.
In this column, NYFA Program Officer Edith Meeks interviews performing artists about issues relating to their working careers. Here, she speaks with David Sharp about artists and finance.
Edith Meeks: You’ve made a pretty unusual career combination of dancing and corporate financial consulting. Do you make any connection between the two?
What are art consultants, or, as they are sometimes known, art reps or private art dealers? They are essentially people who sell art but who do not have a gallery.
While artists with disabilities face unique challenges in their careers, artist-in-residency programs present an even greater challenge.
1. Do I need an accountant?
If you are able to do your bookkeeping and file your tax returns yourself, then you probably do not need an accountant. Once your business becomes more complicated or more time-consuming, then it is probably advisable to hire an accountant and a bookkeeper. It is also advisable to hire a qualified professional such as an accountant or an attorney during the initial setup of your organization. Both professionals will be able to clarify questions and help with the choice of the most appropriate business entity.