Artist Pension Trust Barter�s To
Provide Financial Security
A pension program created by the Artist Pension
Trust (APT), has been created to provide artists with long-term
financial security in exchange for their works of art.
The premise is unusual. Selected artists pool
their works, contributing 20 pieces over 20 years in exchange for
receiving an income stream as the trust sells the works.
APT was established three years ago by New
York-based Mutual Art, Inc., an independent company formed to
develop new financial service products for the art world. It now has
regional trusts in New York, Berlin, London, Los Angeles, Beijing
and Mexico City, with more planned.
Creative Capital, Fractured Atlas Other Options
Another organization for artists is Creative
Capital, which tries to supply the financial grounding as it applies
the model of venture capital to the arts. Artists are given seed
money for projects in exchange for a percentage of any profits.
Since it has a stake in the project�s success, it offers artists
support services such as strategic planning and workshops in
The New York-based nonprofit has not only given
out over $6 million to 242 artists, an average of $25,000 to $35,000
per project, it has also trained more than 1,000 artists in career
planning, money and time management, and goal-setting at its
Fractured Atlas, a nine-year-old organization,
is another group that provides a variety of support services to
individual artists and arts organizations...perhaps most notably
The group�s leverage enables 2,000
artists to benefit from large group rates on health insurance
coverage. It offers eight health plans, ranging from $10 a month to
$400 a month.