FEDERAL The IRS and Treasury Department are finally starting to bring some clarity to program related investments, releasing a rule that represents the first update in 40 years to the language describing how these financial instruments can be used. Unfortunately, the one arts example in the mix describes a 501(c)(4) “social welfare” organization, rather than the more standard 501(c)(3) nonprofit. ThisRead More
Around the horn: staycation edition
ART AND GOVERNMENT Remember that debate a while back about whether video games qualified as art? Well, the NEA just declared it over by including support for “digital games” in its new Art and Media program. To Scott Walters’s everlasting chagrin, however, the NEA is still providing funding to organizations in New York, LA, andRead More
Fictional Foundation Fun, part II
So, yesterday we took a look at the $800 million Ortiz Foundation for the Arts (OFA), a hypothetical new organization focusing on promoting cultural vitality in New York City. After some discussion, we settled on a mission statement as follows: The Ortiz Foundation for the Arts (OFA) works to foster the visual, musical, theatrical, andRead More