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Performing Arts Bank
Purpose
The Performing Arts Bank Program is a partnership program of South Dakotans for the Arts and the South Dakota Arts Council.
As an underwriting service for South Dakota communities with populations under 15,000, the Performing Arts Bank insures against financial loss in producing and sponsoring performances, workshops and other performing arts events without removing the community effort required to support the event. Activities must be open to the public through the purchase of tickets, registration or entry fees.
Performing Arts Bank underwriting is designed to:
- Foster efficient management of performing arts presentations as a means of becoming self-supporting.
- Stimulate local private support for arts programming.
- Facilitate the presentation of quality local and imported performing arts activities.
- Encourage the employment of professional performing artists.
Eligible
Nonprofit organizations from South Dakota communities with populations under 15,000 are eligible. Applicants must be designated as federally tax-exempt institutions under the IRS Section 50l(c)(3) or units of government or nonprofit educational institutions. Organizations not meeting this requirement may apply under the auspices of a qualifying organization, which then becomes responsible for all fiscal and contractual arrangements.
Arts events eligible for Performing Arts Bank underwriting are imported and locally produced quality performing arts presentations (theater productions, dance performances, music concerts, or recitals, etc.), and workshops and classes led by performing arts professionals. The presentation of touring programs available from bordering state arts agencies also is eligible. Performances supported through Arts Midwest are eligible for Arts Bank underwriting.
Organizations wishing to schedule an event with high financial risk or for which no admission can be charged should consider a Project Grant.
Ineligible
Arts Bank underwriting is not available for activities such as:
- School events normally considered part of the regular or extracurricular program.
- Educational events which offer course credit.
- Performances and workshops which are available to the public only through a subscription season ticket or membership.
- Projects receiving support from the South Dakota Arts Council in another category.
- Events supported by a free will offering rather than paid admissions.
- Projects that are part of an Arts Challenge Grant recipient’s regular season.
Deadline
All materials must be postmarked at least 30 days prior to the beginning date of the proposed activity.
Grant Amount
Each application for Arts Bank underwriting must not exceed 50% of the project cost, up to a maximum of $500. An organization cannot receive more than $1,000 from the Arts Bank within a fiscal year (July 1 to June 30).
Criteria for Awarding Grants
Applications are reviewed by staff with consideration given to the following:
- Complete description of event.
- Quality within the art form.
- Management and fiscal competence of applicant.
- Realistic budget, showing how expenses will be covered without Arts Bank support.
Applications Procedure
Applicant must submit one copy of the following materials:
- Application. A signed copy of the application.
- Before completing the application form, refer to the Glossary.
- A summary of the proposed activity must be supplied in the space provided on the application form.
- Budget Page. Page 2 of the application. Include a realistic budget showing anticipated cash expenses and the sources of cash income expected to cover the entire cost of the project. (Anticipated income must meet or exceed anticipated expenses.) Applicant must agree to try to raise the amount needed to cover expenses. If the project succeeds, Council funds are not used. If it does not meet its expenses, Arts Bank money is available up to the amount approved in advance.
- Resume. A biography or resume no longer than five single-side pages, for each artist or consultant involved in the Arts Bank activity. Add the page(s) to the application.
PDF Application Form
Evaluation
Evaluations are due within 45 days after completion of the project. The information required on the Evaluation Form includes description and comments on the projects, a rating (with explanation) of the project, number of events scheduled, actual number of individuals benefiting (attendance), actual number of artists participating, and financial report.
The financial report must show actual cash expenditures and cash income, indicating any profit or loss. If a loss is incurred, payment from Arts Bank will be made to the applicant organization. Payment may not exceed the amount approved in advance.
If an evaluation is not received in the Council office 45 days after the event, funds will no longer be available.
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