The art market has been heavily disrupted by Covid-19 virus, and collectors can expect market shifts to persist for some time. In these turbulent times, here are some tips for collectors to keep in mind to safeguard their art property, as well as information on US tax relief legislation designed to encourage collectors to make cash donations to charitable institutions and a comprehensive list of grants for artists.
Disruptions in Sales Channels
Many spring auction sales have been postponed, art fairs have been postponed or cancelled and galleries and auction houses have had to close their doors to the public under government mandates. This physical distancing has resulted in challenges to a collector’s ability to physically inspect and transport works. Various art merchants have either launched or expanded their online viewing platforms to foster continued engagement with the art community. While works have been available through various online channels for years, the scale of the online engagement efforts has significantly increased in recent days. Whether these online efforts will continue at this scale after galleries’ physical locations reopen to the public remains to be seen. Regardless, collectors acquiring works viewed only online should review the relevant terms of sale prior to effectuating a sale to confirm that the collector has received sufficient information concerning the current condition of the work and/or that the art merchant is contractually bound to deliver the work in good condition and should inquire about the method and timeframe of delivery to the collector’s physical address or storage location.
Cybersecurity
While participants in the art market (like every other market) have fallen victim to hackers before this pandemic, collectors should be particularly vigilant during this crisis. In addition to adopting cyber liability loss prevention measures, collectors should be mindful that sometimes losses can be avoided simply through an email recipient double checking the email address of the sender to confirm it’s correct and avoiding suspicious web links contained in emails. Further, as payments for art purchases are often made via wire transfer, collectors should call the seller to confirm that any wire-transfer instructions sent electronically are accurate and haven’t been intercepted and manipulated by a hacker.
Art Loans to Museums
Numerous museums across the globe have closed their doors to the public indefinitely. While the timeframe within which they’ll eventually reopen will be decided on a case-by-case basis, the schedule of current and upcoming exhibitions at these institutions is up in the air. If a collector’s artwork already is on loan at a museum, the collector should review the relevant loan agreement and communicate with the borrowing institution to confirm that the loan agreement and insurance coverage provided by the borrowing institution will apply during the time period in which the artwork remains with the museum, even if such timeframe extends beyond the initially-anticipated term of the loan. Collectors should also consider inquiring about the staffing and security controls at the museum during the period of closure to ensure their artwork is protected against theft. See recent case https://www.theguardian.com/artanddesign/2020/mar/30/van-gogh-painting-stolen-from-dutch-museum
Cash Donations to Charitable Institutions
The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a tax relief provision intended to soften the economic impact of the Covid-19 pandemic on charitable organizations by encouraging contributions of cash to charitable institutions. For 2020, the CARES Act allows individuals who claim the standard deduction (that is, don’t itemize their deductions) to deduct up to $300 of qualified charitable contributions of cash. Sections 2204-05 of the CARES Act also relaxes the percentage limitations that apply to individual (as well as corporate) cash charitable contributions in 2020.
Emergency Grants for Artists:
In the United States:
CERF+ (Craft Emergency Relief Fund): CERF+ provides rapid relief and career recovery loans through their own grants (for artists working in craft disciplines) as well as a list of emergency resources for artists in other disciplines. Additionally, CERF+ just launched the COVID-19 Response Fund to support artists working in craft disciplines. "This fund is essential to our rapid and effective response to those artists who are suffering severe health impacts from the coronavirus, ensuring that CERF+ has the funds necessary to respond to this unprecedented crisis," said CERF in an email release. If you are able, please donate to the CERF+ COVID-19 Response Fund.
Artists' Charitable Fund: Colorado-based Artists' Charitable Fund assists American visual fine artists (painters and sculptors) living anywhere in the United States by paying a portion of their medical/dental/eye-care bills. For example, the Fund has purchased a wheelchair, paid for eye surgery, provided funding for an artificial leg, paid partial medical expenses of several artists who have cancer, as well as other needs for medical assistance. You can find out more about the fund as well as donate here.
Artists' Fellowship, Inc.: The Artists’ Fellowship provides emergency aid to professional fine artists and their families in times of sickness, natural disaster, bereavement or unexpected extreme hardship.
The organization defines eligibility to “Professional” is defined as those visual artists who make their livelihood through sales as reported on a Schedule C with a U.S. Federal tax return. An active exhibition history is also an important part of documenting “professional.” You can find the application here.
Foundation for Contemporary Arts Emergency Grant: Emergency Grants offers immediate assistance to artists that have sudden, unanticipated opportunities to present their work to the public when there is insufficient time to seek other sources of funding. Artists should be living and working anywhere in the United States, though projects can occur in the U.S. and abroad.
Each month FCA receives an average of 95 Emergency Grant applications and makes approximately 12-15 grants. Grants range in amount from $500 to $2,500, and the average grant is now $1,600.
These grants do not cover life-related emergencies such as food, rent, medical bills, childcare, and other basic necessities, reimbursement for expenses that you have already incurred, or projects with no scheduled exhibition or performance dates, so look closely at the requirements and limitations.
Foundation for Contemporary Arts :The Foundation will disburse $1,000 grants to artists who have had performances or exhibitions canceled or postponed because of the COVID-19 virus.
American Guild of Musical Artists (AGMA) Relief Fund– (USA): Any AGMA member in good standing is entitled and encouraged to apply for financial assistance through the AGMA Relief Fund. Grants are awarded on a case-by-case basis, based on need.
Haven Foundation: The Haven Foundation provides financial assistance up to $10,000 to artists who have a health crisis; grants are one-year, and the financial amount provided is to the discretion of the Foundation. Grants can be renewed up to four more years, with a supplemental application. Read the guidelines for application here.
Rauschenberg Emergency Grants: The New York Foundation for the Arts (NYFA) and the Robert Rauschenberg Foundation partnered to offer a new medical emergency aid program for artists. The one-time Rauschenberg Emergency Grants will provide visual and media artists and choreographers with up to $5,000 to cover a number of unforeseen medical expenses. There is no deadline; applications will be accepted and reviewed by the panel on a monthly basis beginning in late May/early June 2020.
National Coalition for Arts' Preparedness & Emergency Response (NCAPER): NCAPER is a voluntary task force of national, regional, state, and local arts organizations, public agencies, and foundations, NCAPER helps ensure that artists, arts/cultural organizations, cultural funders, and arts businesses have the capacity and ability to respond effectively to disasters and emergencies affecting the arts and culture sector.
Sustainable Arts Foundation: Awards supporting artists and writers with families with up to $6,000.
Equal Sound Corona Relief Fund: If you are a musician who has lost income due to a canceled gig as a result of the Coronavirus / Covid-19 outbreak, this new grant provides monetary support to musicians who have lost income due to a canceled gig as a result of the COVID-19 outbreak.
Anonymous Was a Woman Relief Grants: This grant allows women-identifying artists to apply for up to $2,500 for financial hardships from loss of income or opportunity as a direct result of the crisis. The application opens April 6.
Arts and Culture Leaders of Color Emergency Fund: This emergency fund can provide up to $200 for people of color that are either working artist or art administration and are affected by COVID-19.
The Creator Fund: ConvertKit has established a fund to help creators in need during the COVID-19 pandemic. They have already received more applications than they have funding, but encourage creators to still apply.
Kinkade Family Foundation Emergency Grant for Curators: This emergency grant provides funding for a curatorial project that sheds light on the world during this time of darkness. Priority will be given to curators who have a venue secured for their project and are greatly impacted by the challenges we are facing due to COVID-19.
The Photographer Fund: Format has put together a $25,000 relief fund designed to help photographers facing financial difficulties during the outbreak. The fund offers $500 per person.
Art Interrupted Emergency Arts Fund: Twenty Summer launched an emergency fund for artists and arts organizations suffering from unexpected and unmanageable financial loss as a result of the COVID-19. Artists can receive up to $500, while arts organizations can receive up to $1,000.
Greater Pittsburgh Arts Council
The Emergency Fund for Artists will now provide up to $500 in assistance to artists experiencing loss of income due to the coronavirus outbreak. The Emergency Fund also remains available for other unforeseen emergencies that may impact your ability to work, such as flood, theft, or fire.
Artist Relief: To support artists during the COVID-19 crisis, a coalition of national arts grantmakers have come together to create an emergency initiative to offer financial and informational resources to artists across the United States. Artist Relief will distribute $5,000 grants to artists facing dire financial emergencies due to COVID-19; serve as an ongoing informational resource; and co-launch the COVID-19 Impact Survey for Artists and Creative Workers, designed by Americans for the Arts, to better identify and address the needs of artists. Check out the FAQs and apply here.
By region
Boston Artist Relief Fund: The Boston Artist Relief Fund will award grants of $500 and $1000 to individual artists who live in Boston whose creative practices and incomes are being adversely impacted by Coronavirus. The application opens Monday, March 16.
Chicago Theater Workers Relief Fund: Chicago area theater professionals may apply for a grant of up to $500 on a first-come-first-served basis.
Biscotto-Miller Theater Workers Fund: This fund provides emergency assistance for any member of the Chicago theater community who is dealing with serious medical issues, including those that may result from COVID-19 infection.
Dallas Low Income Artist Fund: This fund provides support for low-income, BIPOC, trans, gender non-conforming, and queer artists and freelancers whose livelihoods are being affected by the pandemic in Dallas.
Durham Artist Relief Fund: Artists, arts presenters or arts venues in need of funds due to COVID-19 can apply for funding.
Hawaii Artists and Entertainment Fund: Working artists in the Hawaii area in need of assistance due to COVID-19 can apply.
Indy Arts & Culture COVID-19 Emergency Relief Fund: This relief fund was created for individuals working in the Indianapolis arts sector and impacted by the current public health crisis.
Arts Emergency Relief Fund: Emergency relief grants to City of Los Angeles-based dance, music, and theater artists, as well as small ensembles who have had their public performances, shows, or concerts cancelled.
Oolite Arts Relief Fund: This relief fund offers up to $500 to cover lost income due to COVID-19 to Miami-based Artists.
Springboard for the Arts Emergency Relief Fund: This relief fund supports artists in Minnesota who experience career-threatening emergencies, expanded to include emergencies related to the COVID-19 pandemic. Artists can request up to $500 to compensate for cancelled work that was scheduled and lost.
The Mayer Foundation grant :The Mayer Foundation grant provides economic relief to New York artists who are distressed or suffering from lack of financial resources as a result of natural or civil disasters, or from temporary impoverishment, loss of employment, death or incapacity of a family wage earner or damage to home and property. The grant also provides healthcare to those who cannot afford it or whose health insurance or financial resources are insufficient to cover their medical needs. The grant is up to $2,500 and is reviewed on a quarterly basis.
NYC Community Trust COVID-19 Response & Impact Fund :The NYC COVID-19 Response & Impact Fund was created to aid nonprofit service providers struggling with the health and economic effects of the coronavirus
NYC Dancers Relief Fund:This fund offers urgent relief to freelance dance artists who have suffered financial losses due to the spread of the COVID-19 and the government enforced social restrictions.
North Carolina Artist Relief Fund:This fund has been created to support creative individuals who have been financially impacted by gig cancellations due to the outbreak of COVID-19. Artists and arts presenters in North Carolina can apply for emergency funding.
Philadelphia Performing Artists’ Emergency Fund: This fund was created to assist performing artists whose income has been impacted by show cancellations, slowing ticket sales, or low turnout during this pandemic.
Portland Area Artist Relief Emergency Fund :This fund is currently for freelance and independent artists residing in the Portland tri-county area.
San Francisco Arts and Artists Relief Fund:This emergency relief fund has been set up to help mitigate COVID-19 related financial losses that artists and small to mid-size arts and culture organizations have suffered. Individuals may apply for up to $2,000 and use the award however they see fit. Awards to organizations will range up to $25,000 and will be scaled based on budget size, up to $2 million.
San Francisco Foundation Emergency Response Fund for Nonprofits:SFF will make a limited number of one-time grants between $3,000 and $25,000 to nonprofits that are addressing the following four issue areas, described in greater detail below: racial bias, worker protection, homelessness and renter protection/housing security, and food security.
Performing Arts Worker Relief Fund:This is a resource for performing arts workers in the Bay Area who are facing a loss of income due to the ongoing COVID-19 crisis.
UNTITLED, ART Emergency Fund:Artists who live in the Bay Area for the past two years are eligible for $250 in an effort to support the security and protection of artists who, in “normal times,” hold part-time or contract work to prioritize their art practice.
4Culture Relief Fund :This relief fund will distribute $1 million to artists in the Kings County, Washington, area who are affected by closures, cancellations, and loss of work due to COVID-19.
Creative Industry Relief Fund:This creative industry relief fund helps support musicians, artists, performers and filmmakers in the Tarrant County area in Texas who have lost work due to COVID-19.
Artist Trust Relief Fund:This relief fund provides rapid response grants supporting critical needs of artists in Washington state whose livelihoods have been impacted by COVID-19.
Washington Theatre Guide Taking Care Fund:Any theater professional currently residing in and who has actively worked in the Washington metropolitan area within the past two years is eligible to apply for emergency relief.
Seattle Artist's Relief Fund:The Seattle Artist's Relief Fund is a crowd-sourced financial relief fund that is already distributing financial relief to artists in the Seattle area. The GoFundMe campaign has reached $144,000 in just its first week and has already received 600 applications. This fund is for individual artists only who live in the greater Seattle area, not organizations or nonprofits. Donate if you can and apply if you need assistance.
Max’s Kansas City Project:Max’s Kansas City Project provides emergency funding and resources to professional artists in the creative arts who live in New York state. Grants of up to $1,000 are given to artists that demonstrate a financial need for medical aid, legal aid, or housing.
ArtsGreensboro:ArtsGreensboro has launched a relief fund for artists in the Greater Greensboro NC area who have experienced a loss of income due to the COVID-19 pandemic. You can apply or donate to the fund here. One hundred percent of proceeds go directly to benefit local Greensboro artists.
Arrowhead Regional Arts Council :This program provides grants of up to $750 for artists and organizations in Minnesota to do art projects online or in other forms during the current shutdown of arts venues. This grant is for artists and organizations who have had projects cancelled or postponed due to COVID-19.
Charlottesville Emergency Relief Fund :Artists can request up to $300 to compensate for scheduled work that was scheduled and lost. Artists are eligible to apply for loss of income regardless of whether the income was from art or other jobs. Artists must live in the Charlottesville area including the city of Charlottesville or the counties of Albemarle, Fluvanna, Greene, Louisa, or Nelson.
Denver Arts & Venues: IMAGINE 2020 Artist Assistance Fund :This fund was started to support individual artists who are experiencing immediate, unforeseen emergency needs due to COVID-19.
Through the IMAGINE 2020 Artist Assistance Fund, Denver Arts & Venues has allocated $130,000 towards grants of up to $1,000 to individual artists who live in Denver whose incomes are being adversely affected due to cancellation of events, classes, performances, and other creative work.
International
Artist + Activist Relief Fund :This fund, created by The Soze Foundation, TaskForce and Invisible Hand, will support artists and activists whose work has been impacted by COVID-19. We will be making $250 grants to selected applicants on an on-going basis.
Canada:
National Arts Center and Facebook Canada: The Facebook-National Arts Centre Fund for Performing Artists will provide $100,000 in artists fees to support online performances between now and March 31, 2020, to help ease financial strain for those impacted by the closure of performance venues across Canada related to COVID-19.
National Theater School of Canada:The National Theatre School of Canada (NTS) is allocating $60,000 in support of emerging artists (as 80 grants of $750). These funds will be granted to theatre artists in training, or artists who have completed a theatre training program within the past five years, to present a piece of art online.
Canada Council Funding and Support for Artists:
The Canadian government is offering a variety of support to artists who are affected by Coronavirus. For Canadian artists abroad there is a travel fund for artists to return to Canada. There are also Emergency Care Benefits for artists unable to earn money due to Coronavirus.
Europe
The Flanders Agency:The Flanders Agency for Innovation and Entrepreneurship is working to provide monthly stipends for self-employed people who are not able to work during Coronavirus. This monthly benefit is € 1,291.69 without family expenses and € 1,614.10 with family expenses during the months of March and April.
Kone Foundation :The Kone Foundation is offering an at-home artist in a residency support program to fund artists over a three month period. Monthly funds range by artist experience, €2,400 (early career), €2,800 (mid-career), and €3,500 (experienced artist).
The Swedish Cultural Foundation and the Swedish Association in Finland:The Swedish Cultural Foundation and the Swedish Association for the Arts have each decided to direct € 200,000 to the new grant form "Culture in the meantime". In the spring, a total of € 400,000 will be distributed for art practitioners and cultural workers who are hit hard financially by the corona crisis.
The Civic Theater Ireland:The Civic Theater has created a fund to provide financial relief to Irish artists experiencing lost income related to COVID-19. Small grants of up to €500 will be paid rapidly on a first-come, first-served basis to affected artists and groups.
United Kingdom
Arts Council of England: The Arts Council of England is providing £160 million of emergency funding available for those organizations and individuals who will need it during this crisis. The council is also making £20 million of financial support available to individuals ( artists, creative practitioners, and freelancers), so they can better sustain themselves, and their work, in the coming months.
South West Creatives – Corona Virus Impact Fund – (Bristol, England) :Aiming to provide ten £200 hardship funds for any artists, practitioners and creative freelancers that cannot work during this time or who have been affected by cancellations or other impacts.
Asia
The Hong Kong Arts Development Council:The Hong Kong Arts Development Council is funding 150 million HK Dollars to subsidize arts organizations, groups, and practitioners having work from February to April impacted by COVID-19. This funding includes performances, exhibitions, rehearsals, preparation and post-event work.
Singapore Unbound Relief Fund (SURF) :
Creative writers, whether they are Singapore citizens living anywhere in the world or Permanent Residents of Singapore, may apply for a USD200/SGD280 grant from SURF with no strings attached. This fund is specifically intended to help those in dire need of immediate help.
Ressources to run an art carrer online
Digital Tools for Artists to Run a Remote Career During Coronavirus
Ressources for staying connected while shletering-in-place
How to Experience Art & Culture During Coronavirus
Creative Prompts for Art Projects During Social Distancing
Meditations to Ease the Artist’s Mind
Ressources to support the arts
How to Support Artists and the Arts During COVID-19
Americans for the Arts' Response Center
Prosper Strategies' Resources for Nonprofits
UN's Open Call for Creatives
Art Handlers Support from Dietl
For more information, please contact Karolina Blasiak, Art Advisor: k.blasiak@rosemon-mc.com
Rosemont Art Advisory tips for collectors to keep in mind to safeguard their art property during Covid-19
22/04/2020