Arts & Humanities
Nonprofits Assistance Fund recognizes the important role that the arts and humanities play in making our community strong and vibrant. We are committed to these community assets and have partnered with arts and humanities organizations around the state, helping them with cash flow loans, capital campaigns, and lines of credit.
Minnesota Citizens for the Arts’ 2006 economic impact study, The Arts: A Driving Force in Minnesota’s Economy, found that the arts contributed more than $838 million to Minnesota’s economy in 2006.
Spotlight on Theater and Dance Companies
From January 2006-December 2007 alone, Nonprofits Assistance Fund approved 37 loans and five Actors’ Equity Association bonds to 17 different companies, totaling $2,242,245.00. Nonprofits Assistance Fund has made loans to theater and dance companies ranging in size, scope, and mission, including both up and coming and established organizations. We are especially excited to have partnered with nearly every mid-sized theatre company in the Twin Cities metro area, with a particular focus on providing a line of credit for Equity bonds. We look forward to continuing these partnerships in the future. For more information on our collaborations with visionary leaders in the performing arts in Minnesota, continue reading Spotlight on Theater and Dance Companies.
Featured Story
Penumbra Theatre
"Nonprofits Assistance Fund never judged us, they never meddled or managed; they just helped us through it." Chris Widdess, Managing Director of Penumbra Theatre.
Penumbra Theatre in Saint Paul, MN is one of the country’s preeminent arts organizations rooted in the African American experience. Founded in 1976 by Lou Bellamy, Penumbra has received national acclaim for its artistic vision, groundbreaking productions, the community impact of its education and outreach activities, and its commitment to nurturing artistic talent. Financially, though, Penumbra’s progress has been rough and unstable. In 2003 the board recommitted to Penumbra’s original mission and determined to pay off the $600,000 in accumulated debts. When managing director Chris Widdess joined the theatre in 2004, the organization’s future and long-term viability remained uncertain, although the organization was working to towards short-term sustainability. To make this happen, Chris was given an enormous task – eliminate the remaining $400,000 in debts over the next three years.
To learn more about Penumbra Theatre, read Realizing a Debt-Free Future.