Creating a Budget: How to figure out your real project budget

by Nancy Scerbo-Berlinger, courtesy of Creative Capital Foundation

Creative Capital prepared these notes for Creative Capital grantees, which may be useful for all grant seekers.

Expenses: 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. Here are two ways to represent your time in your project budget:
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Ask Artemesia on Venture Philanthropy and Funding Credits

Melissa Potter, Program Officer, NYFA Source, courtesy of New York Foundation for the Arts

This issue’s installment of Ask Artemisia answers questions concerning venture philanthropy and funding credits.

What is venture philanthropy? Do any of these funders make grants in the arts?
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Self-Employment

By Karen Atkinson, courtesy of Side Street Projects
There are basically six types of businesses, 'the self-employed', 'the builder of businesses', 'the inventor', 'the franchise owner', 'the marketer', and 'the speculator'. Most artists fit into the self-employment category which we will address here. It is known legally as the sole proprietorship. You and you alone own all the assets and assume all the liabilities.

Things to Consider:
  • A place to live.  Do you want your studio separate from your living space?  Do you use toxic media in your work? more...

Billing and Collection

By Karen Atkinson, courtesy of Side Street Projects

Keeping track of who owes you money will reduce a lot of headaches in the future.  Create a bill of sale for each work you sell.  Make sure you use a contract for every agreement you enter into.

If you make special payment plans for certain individuals, make sure you include that payment plan in the bill of sale.  You should always retain the work until the final payment is made.

Always get a list of the work located at a dealer, a gallery, or an art consultant.  Keep in touch with them regarding sales.  Know where you work is.

A bill of sale should include the date, the name, size, description and medium of the work, who buys the work, including address and phone/e-mail.  The price of the work and the terms of payment are important, as well as any delivery information.

All purchasers of your work should know about the Visual Artists Rights Act and any state Resale Royalty Acts when they acquire the work.  more...


Richard Florida's High-class Glasses

Article by Ann Daly, Arts Consultant
WHEN Richard Florida took the mainstage at last year's Americans for the Arts conference in Portland, Oregon, the woman next to me—we had never met—leaned in with an immediate response. "Hubba-hubba," she murmured in my direction. The Carnegie-Mellon University professor of economic development had come a long way since the publication of The Rise of the Creative Class in June 2002. more...

Resolutions for a happy new year

CAR collaborative partner GYST (Getting Your Sh*t Together) is an LA-based artist-run company that has developed an excellent software to help artists to stay on top of their careers. In December and January they are offering a discount on the new version of the software to CAR users.

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