10 investors at 5,500 annually

Purpose:  Support an emerging artist for one year.
Idea:  Form a group of art enthusiast who are looking for new art, a social event and the experience of interacting in the art process.  10 people will contribute to a mutually agreed upon artist who would benefit from the financial support.

Details
-  Artists can be chosen from the Artist Consortium database or select artist the group knows.
-  Cancel contract:  9 of 10 investors must agree to terminate: reimburse remaining funds.
-  Investors’ funds are collected and managed by Artist Consortium.
-  Artist Requirements-

1. Must be “emerging artist”
2. Be able to present portfolio of body of work
3. Demonstrate ability to produce work
4. Submit application with essay
5. Agree to 1 year contract with Artist Consortium
6. Meet obligations of contract:

-  10 donated works of art
-  Produce work for 2 shows
-  Participate in AC Salon
-  40% commission for duration of contract  (20% mgmt. fee/20% investor return)
-  Investors’ obligations-

1. Initial investment paid in advance
2. 2 board meetings during contract period

Financial details:
-  $5,500 annual contribution per investor
-  3K net monthly to artist with income taxes pre-paid
-  4K fund to finance 2 art shows and 1 artist Salon
-  40% commission fee is due on all art sales during the contract period
( 20% mgmt. fee / 20% investor return)

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