Many nonprofit arts organizations need to manage the uneven cash flow resulting from the timing of production costs, ticket sales, and grant and government revenue. The MacArthur Foundation Arts & Culture Loan Fund helps address this need among small- and mid-sized arts and culture organizations in the Chicago area.
- Eligibility: Arts organizations that are current grantees of the MacArthur Foundation or the MacArthur funds at the Prince Charitable Trusts and Richard H. Driehaus Foundation. Organizations must have annual budgets between $250,000 and $5 million.
- Terms: $10,000 to $150,000 lines of credit maturing in 1 year, with potential for renewal.
- How to Apply: Your first step is to contact Fiscal Management Associates (FMA), a consulting firm that works with nonprofits to strengthen their financial management practices. Email LoanFund@fmaonline.net.