Advisory Board

                                      

“If business people want their firms to be competitive, we need a society where the arts flourish. Thus business people need to internalize the positive externality that the arts provide.” - Michael Brandl PhD, Ohio State University, Fisher College of Business

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What is an Advisory Board?

 

The Advisory Board is a network of contributors who are willing to donate time and money in order to groom and develop the art business. In this, they are Patrons of the artist, and Investors of the business. As an advisor, the participant is directly involved in the development of the creative process, providing them with an outlet and a long lasting connection with the art community.

 

The Board itself is a venture to create a community based, sustainable business model to support an artist. It creates and formalizes the relationship between the board member and the artist, and business and the arts. A healthy art community, which would be the goal of the advisory board, and ultimately, the primary reason to participate in this adventure, increases the cultural cache of Grand Rapids. A community where art flourishes is an attractive place for people to live, build, and invest; a healthy art community creates further opportunities for businesses unrelated to the arts to grow. In supporting Studio Beerhorst, that community is expanded as one of the primary goals of the Studio is to reach out and involve the community.

 

While this community does already exist, the purpose of the advisory board is to formalize it and develop the community with a solid financial foundation. The path is there, but we are attempting to pave it and turn it into a road that can be reproduced elsewhere


 

. Advisory Costs and Benefits

 

For a commitment of one to three years, the members of the advisory board would contribute a minimum of $3000 - $14000 US annually. You may make one payment for the entire year our choose to set up a monthly contribution. The amount collected by Studio Beerhorst will then by paid out over the course of the year, covering the costs and expenditures of projects as outlined by the business plan. In an effort to maintain accountable, the Studio would submit both quarterly and annual reports documenting the progress and gains of the goals outlined for that year.

 

As a material return for their investment, the use of a fiduciary agent/fiscal sponsor, as outlined below, the financial contributions of the board are able to be included under the umbrella of tax write-offs.

 

The studio is answerable to the advisory board. Detailed records of expenditures and finances will be made available for referral, as well the product and results of each outlined goal. This does not meant the Advisory Board exerts or directs the creative vision of the artist. Participation is an endorsement of the artist’s vision, rather than the intent to shape or direct. This does not mean there is no direct effect on the creative output. The studio is able to take risks, explore new directions and ultimately become more creative as a result of the financial underpinning the board provides. To be free of the feast or famine involved in the standard method of commissions and sales is to encourage more creativity and increase output.

 

The business of the artist and the studio will be directly impacted by the advisory board. The skill and knowledge that the board member brings is an integral part of the relationship between the board member and the artist.

 

In exchange for the use of their resources, the advisory board would be included in any and all major announcements, events, and opportunities provided by the studio, and those in which the studio participates. Exclusive perks and benefits include:

  • Inclusion in all relevant media: Donor Page on Studio Beerhorst website and all public media related to major projects and events

  • Invitations and notices to all Beerhorst involved events, including ArtPrize, Opening of Shows, private parties and events at the Studio, prive previews of work prior to public exposure.

  • Exclusive prints and media for those involved.

 

Using Fractured Atlas, a Fiscal Sponsor service, we want to assure investors that funding is being appropriated to the intended purpose. The use of Fractured Atlas as a fiscal sponsor allows the donor to receive a tax-write off at the end of the fiscal year, and through the parameters of the program, allow a clear outline of the use of donated funds.


 

About Fractured Atlas

https://www.fracturedatlas.org/

 

Fractured Atlas empowers artists, arts organizations, and other cultural sector stakeholders by eliminating practical barriers to artistic expression, so as to foster a more agile and resilient cultural ecosystem.

 

As a registered non-profit in all fifty states, Fractured Atlas (heretofore referred as FA), is able to generate receipts to donors that allow their donations to be counted towards tax deductibles at the end of the fiscal year. Those funds are released to an arts organization when and only when there is an expense related to the artist’s business. For example, such expenses as supplies and development costs are allowed to be paid for via the FA account, whereas personal expenses, such as gifts and groceries, would not be permitted.

 

Fractured Atlas supports and sponsors “projects.” These projects “must be artistic in nature and may not be produced solely for commercial gain. The term "project" is used very broadly, and may refer to a one-time project, an ongoing group or company, or even the work and career of an individual artist.” As a nonprofit with 501(c)(3) status, FA extends the benefits of that status to those artists and projects it chooses to sponsor. From the Fiscal Sponsorship agreement:

 

“TERMS AND CONDITIONS OF FISCAL SPONSORSHIP

Fractured Atlas, Inc. ("Grantor") is willing to receive tax-deductible charitable gifts, grants and contributions to be awarded by donors ("Donors") to Grantor for the purposes of the charitable activities described in the associated fiscal sponsorship application (the "Project"). In furtherance of its charitable purposes, Grantor shall create a restricted fund designated for the

purposes of the Project and has decided to grant all amounts that it may receive from Donors for the purposes of the Project, less any administrative handling charge as set forth below, to the responsible legal entity identified in the fiscal sponsorship application ("Grantee"), subject to the terms and conditions herein. [etc.]”


 

Advisory Board Gains and Benefits

 

Advisory Board Incentives are both material and immaterial. In contributing both time and resources, we mean to fulfill the donor internally and externally:

 

Immaterial Incentives:

  • Prestige of of Patronage: Patronage is the support, encouragement, privilege, or financial aid that an organization or individual bestows to another. In the history of art, art patronage refers to the support that kings, popes and the wealthy have provided to artists such as musicians, painters, and sculptors. In providing this support to Studio Beerhorst, we offer the opportunity for the donor to be considered a vital and important part of the success and existence of Studio Beerhorst.

  • This provides the donor to be a pioneer in creating AND reinventing a sustainable business model for artists.

  • Engage the community

  • Economic and cultural enrichment

  • Relationship with the art and the artist

  • Connection of art and business communities

 

Material Incentives:

  • Tax Deductible Write-Offs to Non Profit

  • Visibility

  • Exclusive Gifts

  • Exclusive Events

  • Connection and Networking with other professionals in an unique, personal setting


 

In Conclusion


Good art, and access to good art, provides more than just pictures. The goal of the studio is to create and promote the cultural scene of Grand Rapids. In addition to drawing people and business here, in addition to providing a venue for economic growth, art enriches people’s lives, enables them to think more abstractly, opens them to new concepts and ways of thinking. Art enables contemplation and consciousness, and ultimately makes a person more alive: this is the goal and primary draw for the advisory board members, as well as Grand Rapids as a whole.