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January 23, 2004

By Carol Vogel The charter of the Andy Warhol Foundation for the Visual Arts allows it to support only museums, arts organizations and cultural institutions in the area of visual arts. But it has found a way to give money to individual artists. This week it committed $10 million - $1 million a year for nine years and $1 million for cash reserves - to Creative Capital, a foundation established in 1999 to support individual artists. "This is a way to complement our other funding and makesure a substantial amount goes to artists," said Joel Wachs, the Warhol Foundation's president. "It's a way ofhelping future Andys." Creative Capital was formed to help counter the decline in support from the National Endowment for the Arts in 1995. The Warhol Foundation was one of its initial supporters and gives it office space in its headquarters on Bleecker Street. The gift is by far the largest made by the Warhol Foundation, Mr. Wachs said. "Most of our grants are under $100,000." Since its inception Creative Capital has financed 158 projects in film, photography, painting, sculpture and performance art. It also helps artists with things like career development and financial planning.

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