We’re excited to tell you about Assets for Artists, a program that offers a range of services to advance artists entrepreneurially and financially, including home ownership assistance.
The program is partially funded through MCC’s Adams Arts Program, led by MASS MoCA and supported by local partners in Boston, Lowell, New Bedford, and Pittsfield. Previously, the program had been offered to Berkshires artists – now it’s open to artists statewide!
So, what does the program do? Assets for Artists can explain it best:
Since 2008, Assets for Artists has piloted an innovative matched savings grant program and financial and business training opportunities for low- to moderate-income artists in Berkshire County, and starting in 2011 those opportunities are now being offered state-wide.
By meeting savings goals and by completing the required training, participating artists can receive grant funds as a savings match for “working capital” to invest in their work as an artistic microenterprise, or receive down payment assistance for the purchase of a home.
Who can apply? Funny you should ask – the Assets for Artists blog was just talking about this…
To be eligible, your adjusted gross income can be no more than $45,000 for a household of 1, $52,000 for 2, $58,000 for 3, and $65,000 for a household of 4. The maximum eligible household income increases $5,000 for each additional person in the household above 4.
Artists will be selected based on a combination of need and artistic accomplishment. They need to make savings deposits monthly (for at least 6 months) to meet a savings goal, during which the program contributes to a “matched savings account” in that artist’s name. Artists are required to do some business and professional development training, after which they can use the accrued “working capital” to invest in an artistic microenterprise, or as part of a down payment for the purchase of a home or live-work space.
Assets for Artists has no application fee or tuition. Go here to download the application.
Applications should be received by 5:00 pm on April 21, 2011. Questions? Email Assets for Artists.
Image: Angela Zammarelli (Sculpture/Installation Fellow ’11), COME OVER, COME OVER (detail) (2010), cardboard, textiles, light fixture, extension cord, glue, 5.5 ft