Registration Opens for Lower Manhattan Cultural Council's 'Personal Finance for Artist' Session, 5/1

Lower Manhattan Cultural Council (LMCC) has announced the 2012 session of Basic Finance for Artists (BFA), a free six-week intensive personal finance seminar designed for 20 individual New York City artists working in visual, performing, literary, media and multi-disciplinary arts. Launched in 2008, BFA is designed to help artists develop financial awareness through practical training in money management. The program takes into consideration the complexity of artists' income across a range of artistic practices.

BFA runs every Tuesday evening from June 5 to July 10 at LMCC's offices at 125 Maiden Lane, 2nd Floor, with a registration period open between today, May 1 and Monday, May 14.

BFA is a sequential program that will provide artists with an overview of the essentials of finance, which include budgeting, cash flow, net worth, credit, investment, home ownership, taxes and financial planning. Artists of all career stages often face the ongoing challenge of financial decisions. Through BFA, LMCC works to help artists gather personal financial information and match that information with essential training to help them make informed financial decisions and negotiations for the long term.

"Basic Finance for Artists is a response to what we had been hearing for years from artists who felt unprepared to plan for and sustain an affordable working life in New York City. Artists are terrific at stretching meager resources to create their work, but they know it's important to think bigger, and to plan ahead to live and work sustainably. LMCC is helping them to do that," said Sam Miller, President, LMCC.

The program attracts artists with little experience in personal finance, as well as those with experience who continue to feel intimidated by the subject. Sessions are taught by experts in the field, who are either experienced in working with artists or are artists themselves. This enables the program to remain relevant and address artist-specific needs.

Participating artists have commented on the program's ability to help them break financial goals down into attainable steps; navigate a world of financial jargon; begin or reactivate retirement accounts; lay the groundwork for home ownership; and get a real working sense of their spending, credit and ongoing financial needs.

"BFA was just what I was looking for to succeed in this eternal road show called 'Becoming a Financially Profitable Artist in NYC.' I appreciate this opportunity to view multiple perspectives on sustaining solvency during a tough economy, and in one of the most competitive markets in the world."-Isabel Sadurni, 2011 year BFA attendee.

The program is open to New York City-based artists with a three-year professional history. To be considered for participation, artists must complete an online registration form addressing their financial knowledge and goals, as well as their history of professional activity. Twenty participants will be selected through a lottery drawing from eligible registrants.

LMCC's Professional Development Programs are supported by Bloomberg Philanthropies, the Charina Endowment Fund, the Joan Mitchell Foundation, the Lambent Foundation and the New York State Council on the Arts. They are also supported, in part, by public funds from the New York City Department of Cultural Affairs in partnership with the City Council.

Registration for Basic Finance for Artists will be open May 1 through May 14 on LMCC's website: www.LMCC.net.

About LMCC
Lower Manhattan Cultural Council (LMCC), a 501(c)(3) nonprofit, has been a leading voice for arts and culture Downtown and throughout New York City for nearly 40 years, producing cultural events and promoting the arts through grants, services, advocacy, and cultural development programs. www.LMCC.net.