Capitalization
Grantmakers in the Arts defines capitalization as “the accumulation of the resources an organization needs to fulfill its mission over time,” specifically regarding financial health. Capital is money saved in order to respond to challenges and opportunities. Capital is different from revenue (which is immediately spent), and from assets like endowments or facilities (which are not available as liquid cash that can pay expenses). It has been the norm for the nonprofit arts sector to be poorly capitalized, an issue which disproportionately affects organizations of color. In response, GIA embarked on the National Capitalization Project (NCP) in 2010. Since its launch, GIA has provided resources, conferences sessions, publications, and workshops on nonprofit capitalization. GIA’s Capitalization and Nonprofit Financial Health Workshops are specialized workshops, held separately for funders and nonprofit grantees, focusing on what each group can do to support the financial health of nonprofit arts and culture organizations. GIA has also updated the workshop to reflect the financial impacts of the pandemic and to reflect a racial equity lens. These workshops are available either in-person or online by contacting workshops@giarts.org.
From CNN: "In the United States, we are now treated to regular announcements about benevolent billionaires pledging to share their wealth. Amazon founder Jeff Bezos, for instance, recently told CNN that he would be giving away the majority of his $124 billion fortune in his lifetime. Further back in 2015, Meta founder and CEO Mark Zuckerberg announced he would give away what he makes from 99% of his Facebook shares."
Read More...A new playbook from LISC and Next City, Equitable Pathways to Small Business Recovery: An All-Hands Approach, offers a framework for paving equitable pathways to small business success, and lays out concrete strategies for supporting capital access, small business capacity, and commercial real estate with specific emphasis for Black, Indigenous, and People of Color (BIPOC) -led or -owned small businesses.
Read More..."Conventional banking hasn't worked for businesses owned by people of color. But a new network is designed to get money flowing fairly to BIPOC economies." Common Future’s CEO, Rodney Foxworth, speaks with Yes! Magazine about their strategy to disrupt traditional lending models, which are neither racially neutral nor adequate for BIPOC communities or businesses.
Read More...This is the fifth session of a series of presentations held in 2021 by art.coop as a "study into-action cohort."
This session took place on Friday, October 1.
Read More...