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Finances
Selected Articles
In order to succeed in your career some financial investment is usually necessary, and the career of the fine artist is no exception: art supplies are expensive, art schools can be astronomical, and finished works may have to be framed, crated, shipped, and insured. There are outlays for postcards, postage, portfolios, brochures, slides, and even perhaps a website. And then there's the question of vanity galleries.
Poetry Magazine, the long-struggling publication, received a 100 million dollar bequest recently from pharmaceutical fortune heir Ruth Lilly. It’s stirred up a hornets nest in circles that frown on mixing art and money. But commentator and arts critic Ann Daly says it’s about time.
At a recent dinner party, my host, an engineer with a poetic soul, shook his head over Poetry Magazine’s good fortune. "Let's just hope," he said, ferrying plates off the table, "that they don't squander it."
Squander it? Whatever could he mean?
Columbia College Chicago Arts, Entertainment & Media Management Department’s Ecenter* is offering “ECENTER LOAN APPLICATION DAY” Local small businesses looking for funding, start-up, expansion, purchase additional inventory, or secure working capital can participate in a one-of-a-kind loan program developed by the U.S. Small Business Administration. Loan proceeds must be used exclusively for business related purposes. The owners, partners and/or principals must be of good character. Selected Chicago-City
Links
Provides information about registering your business, property taxes, tax relief programs, and personal income taxes.
Training classes at Lumity, an organization that helps Chicago non-profits increase their impact. A manual on debt collection issues.
Provides low-cost, flexible financing to nonprofit community development organizations.
The Arts and Business Council's proprietary on-line self-assessment for the arts. Helps arts groups to pinpoint improvement and growth needs in seven major management areas.
Selected National/International Links
Article with advice for filing your taxes as a contractor or employee.
Article for Artists with advice on how to prepare your work for sale or donation as part of your estate. This article is written by an arts business expert. Some of the art-specific examples may be less than contemporary, but the business principles that are discussed are excellent. Article with advice for artists on how to will and bequeath your art, written by an arts business expert. Some art-specific examples are less-than-contemporary, but the business principles discussed are excellent. Links to information and advice about financial issues, including budgeting and accounting.
Selection of short articles with tips on taxes and financial management for artists. Designed to help consumers understand the wise use of credit and locate a caring, certified counselor.
Article by a tax professional with advice on how to claim your art sales on your taxes. Provides extensive income tax information for individuals, businesses and nonprofits, and makes documents and forms for filing and completing federal tax returns available for downloading.
Free membership is required to view this entire article that explains what mechanical royalties are. Founded in 1956, is the nation's leading authority on philanthropy. Dedicated to serving grant seekers, grant makers, researchers, policymakers, the media, and the general public.
For more than 40 years, AFP has been the standard-bearer for professionalism in fundraising. This website will tell you how this asociation can be of use to you.
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