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Why did the income and expense statement start seeing a therapist?
Because it couldn’t find the right balance.
Among my eclectic mix of creative side hustles is comedy. Yet what’s happening right now in the creative nonprofit sector? Not much funny to be found in the losses.
With each passing month “post-pandemic,” Twin Cities creatives are being hit with bad news. Pollen, which hosted events and provided narrative storytelling services, is sunsetting. Cowles Center for Dance and the Performing Arts ended its performance season early and is ceasing operations. Due to road construction, the Uptown Art Fair is canceled this year. And now the Guthrie is reporting a $3.8 million deficit, the largest in the theater’s history.
There are more than 30,000 nonprofits in Minnesota, a third of which employ nearly 400,000 people in our state. Of those considered financially active (with annual incomes of over $25,000), 9% are creative and cultural organizations that serve as connectors in our community.
In my role as a creative placemaking program officer at Local Initiatives Support Corporation, I have the honor of working with cultural and creative districts in the metro area. Arts and cultural organizations are an integral part of what makes their districts special and helps their local economies thrive.