Community Arts Stabilization Trust

For Capital Support

  • Amount
    $1,500,000
  • Program
  • Date Awarded
    3/16/2015
  • Term
    12 Months
  • Type of Support
    Capital Funds
Overview
Community Arts Stabilization Trust (CAST) is a new organization, founded in 2012 by the Kenneth Rainin Foundation, in partnership with Northern California Community Loan Fund. Its mission is to create stable physical spaces for arts and cultural organizations to facilitate equitable urban transformation. The Trust employs three strategies to address arts organizations’ real estate needs: (a) acquire new properties for purchase, then lease to arts tenants; (b) master leasing and bundling opportunities for multiple arts groups; and (c) a rental space matching program using an enhanced mapping tool, Bay Area Performing Arts Spaces. The Trust also provides significant capacity building and technical assistance to tenants. In addition, it has launched a $2 million Nonprofit Displacement Fund with the San Francisco Arts Commission and Northern California Community Loan Fund. A grant to Community Arts Stabilization Trust would support the purchase or renovation of properties to address the real estate needs of community based nonprofit arts groups in San Francisco. The Hewlett Foundation’s investment at this stage would provide key support as the Trust seeks to raise $30 million ($10.5 million secured) by 2017 to test, build, and refine its approach and economic model.
About the Grantee
Grantee Website
cast-sf.org 
Address
70 Otis Street, San Francisco, CA, 94103, United States
Grants to this Grantee
for general operating support  
Community Arts Stabilization Trust (CAST) purchases and leases physical space for the use of arts and culture organizations effected by the rising costs of real estate in San Francisco and Oakland. It provides financial vehicles, capacity building, and technical assistance that enable arts entities to sustain the creativity necessary to promote lively and stable neighborhoods. This grant to CAST advances the Infrastructure component of the Performing Arts Program’s strategic framework by acquiring and preserving space that benefits communities, artists, and youth.
for general operating support  
Community Arts Stabilization Trust (CAST) was founded in 2012 by the Kenneth Rainin Foundation, in partnership with Northern California Community Loan Fund (now known as Community Vision Capital & Consulting). Its mission is to create stable physical spaces for arts and cultural organizations at risk of displacement, and in doing so mitigate the effects of gentrification caused by urban development. CAST also provides significant capacity building and technical assistance to arts tenants. Since its founding, CAST has secured 39,000 square feet, at four locations in San Francisco, for arts and culture organizations, with another 124,000 square feet in the development pipeline in San Francisco and Oakland.

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