FOR IMMEDIATE RELEASE
SEPTEMBER 2017
CONTACT:
Tio Aiken
Communications Manager
tio.aiken@artspace.org / 612-321-1841
ARTSPACE ANNOUNCES INNOVATIVE PARTNERSHIP WITH INTEREST FOR OTHERS FOUNDATION
Artspace Joins a New “Social Giving” Initiative that Taps Donations of Earned Interest on Donors’ Bank Accounts
MINNEAPOLIS—Artspace joins 32 forward-looking Minnesota charities participating in a new approach to fundraising offered by Interest for Others Foundation (IFOF). IFOF, a Minnesota-based 501(c)(3) nonprofit, has developed a “social giving platform” that allows bank customers to easily donate earned interest directly to a charity of their choice, including Artspace.
While the annual earned interest on any given financial account is often small, collectively these sums can add up to billions of dollars a year. By joining together, donors can turn small change into big change for the charities they love, which is IFOF’s mission.
“We are excited to provide friends and supporters of Artspace with this unique and innovative way to give,” says Artspace President Kelley Lindquist “Our work with Interest for Others allows us to provide our supporters with yet another option for individuals to be a part of our donor community in an easy and accessible way.”
“We’re very proud to include Artspace in our inaugural group of non-profits,” says Mark Greene, CEO of Interest for Others Foundation. “Together, we are building a growing movement of online giving that’s proving especially attractive to first-time and younger donors. Our partnership with Artspace is truly advancing the frontiers of philanthropy.”
As Interest for Others perfects its social giving platform with the initial participating charities and bank partners, the goal is to expand nationally. In addition to Minnesota, the organization is registered as a nonprofit in North and South Dakota. The cause, with its call to generosity and community spirit, has also attracted legislative support. The Interest for Others Act was introduced in the U.S. House of Representatives in 2016 & 2017, with the aim of providing tax incentives for donors and reduced administrative burdens for financial sponsors. Interest for Others, Artspace, and the other participating charities plan to continue spreading the word through donor lists and social networks.
About Artspace
Artspace is a non-profit organization that uses the tools of real estate development to create affordable, places where artists can live and work. We consistently develop these projects in ways that support more stable, healthy communities anchored in existing assets. Because Artspace owns each of the projects it develops, we are able to ensure that they remain affordable and accessible to artists in perpetuity. With 40+ projects developed over the last three decades, Artspace has led an accelerating national movement of artist-led community transformation, representing a $500 million investment in America’s arts infrastructure. While embracing the value the arts bring to individual lives, Artspace has championed the once-radical idea that artists living on the edge of poverty and chronically underfunded arts organizations can leverage fundamental social change. With headquarters in Minneapolis and offices in Denver, Los Angeles, New Orleans, New York, Seattle and Washington D.C., Artspace is America’s leading developer of arts facilities and has served as a consultant to hundreds of communities and arts organizations nationwide. Additional information is available at www.artspace.org.
About Interest for Others Foundation
Founded in 2014, Interest for Others Foundation encourages generosity and community spirit by giving bank customers an easy way to donate earned interest to charities they love. The premise is both creative and simple: the aggregation of earned interest—typically small dollar amounts—can significantly increase charitable giving throughout the United States. The Foundation's online giving platform can be accessed at InterestforOthers.org/GiveNow.
Social media handles & hashtags:
@Interest4Others
#interestforothers
#smallchangebigchange
#alittlewaytodoalotofgood
#yourinterestmatters
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