A Secret Sauce for Building Financial Capacity and Addressing Equity Issues
Tuesday, October 15, 3:40pm – 5:00pm
Organized and moderated by Cate Fox, senior program officer, Chicago Commitment, John D. and Catherine T. MacArthur Foundation.
Presented by Damion Heron, program officer, Chase Bank Foundation; Gretchen Upholt, lead consultant, Midwest, Financial Management Accounting (FMA); and Vickie Lakes Battle, executive director, Chicago Region, IFF.
Artists want to make art, not produce quarterly financial forecasting documents. However, they often find themselves having to be both artists and chief financial officers. This circumstance can be amplified if the artist is a person of color or from a disinvested community. MacArthur created the Arts & Culture Loan Fund to provide more equitable access to loans and opportunities for small and mid-sized institutions to build strength. With a demonstrated track record, this grantmaking + PRI program is an effective model for building financial capacity and addressing equity issues. This session will provide a brief overview of the Arts & Culture Loan Fund, perspectives from our colleagues at Chase who have taken the model and adapted it for ALAANA community development and workforce organizations; and group discussion about trends seen by various stakeholders.