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Creative Capital Foundation's Report on Activities 1999-2000

October 3, 2001

NEW YORK, NY (October 3, 2001) – Creative Capital Foundation awarded nearly $1 million in grants directly to individual artists in 1999–2000, as reported in the foundation’s first biennial report. The report chronicles Creative Capital’s first two years and details its extensive grants and services program for funded artists. In the President’s Letter, Ruby Lerner outlines some of the foundation’s long-term goals, such as devoting a year to promote the 150–160 funded projects to venues across the country. She also announces the launch of an endowment campaign: "Creative Capital plans to raise a permanent endowment of $40 million by 2004. Our campaign . . . will be led by Archibald L. Gilles, founding board chairman, who has stepped down from that position to devote his inexhaustible energies to ensuring that Creative Capital will have a permanent place as a funder of contemporary artists." To date, more than 35 foundations and philanthropists have pledged at least $7 million to Creative Capital for grantmaking and artist services. Founded in 1999, Creative Capital evolved as a response by philanthropists, arts professionals, artists, and business leaders to government cuts in funding to individual artists. Its model differs from those of traditional grantmakers in that the foundation commits to a long-term approach to working with artists. Artists in Creative Capital’s grant program have access to professional services, including assistance in fundraising, networking, marketing, and strategic planning. In addition, grantees agree to share with Creative Capital a small percentage of any profits made by the project. For a copy of the report or to contribute, contact Celia O’Donnell, Development Director, (212) 598-9900, ext. 229, [email protected]

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