Avoiding the Curse of the One-Hit Wonder: Creative Capital's Expanding Loan Fund for Alumni

There are many examples of “one-hit wonders” in pop music, but the term can also apply to other fields of art. Too often an artist, filmmaker, or writer stuns their respective community with a flash of brilliance only to just as quickly disappear. And one of the biggest reasons for this is lack of financial support, or, more specifically, lack of personal financial acumen to keep themselves afloat. Now, thanks to a major gift from the estate of photographer Theo Westenberger, Creative Capital is expanding their Loan Fund for Alumni Artists to potentially benefit a much larger pool of alumni.

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Creative Capital Goes Beyond Grant Making

What would you do with a $50,000 grant from the Creative Capital Foundation? For most, the first thought would be to buy more supplies, rent more studio space, make more art. Lather, rinse, repeat. But what happens when grantees already have the supplies and the space? How do they manage their remaining grant funds to get the most out of their money? Call their benefactor, that's what they do.

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