creative economy

Program initiated to help R.I. artists develop business skills

THANKS TO A COLLABORATION between the Rhode Island State Council on the Arts and The Rhode Island Foundation, the Assets for Artists program is bringing its capital and mentoring program to the Ocean State.
Posted 3/20/13

PROVIDENCE – Assets for Artists, a matched-savings program for low-income, entrepreneurial artists, is now accepting applications from Rhode Island artists in all disciplines.

The Rhode Island State Council on the Arts and The Rhode Island Foundation announced last week that they were bringing the Assets for Artists program to Rhode Island through a partnership with the Massachusetts Museum of Contemporary Art, the International Institute of New England and other partners.

The program provides grant funds to match the savings of participants, up to $2,000 for working-capital investments in their arts businesses. Ten Rhode Island artists will be accepted for the program, which also provides financial and business training.

Participating artists will engage in a “boot camp” on personal finance for artists and then will be enrolled in International Institute of New England’s Bridges to Business Program, providing artist-focused business-planning classes and additional one-on-one technical assistance.

Eligible candidates must have an adjusted gross income of no more than $22,340 for a single artist, $30,260 for a couple, and higher limits for larger households. Eligible candidates also must have net assets of less than $10,000, excluding home equity and one car.

Applications are available at arts.ri.gov/individuals/assets-for-artists-2013.

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