ArtPrize funding comes from a diverse range of funders, including national and local businesses, foundations, individuals and the public sector.
Corporate sponsorship represents the largest single source of revenue, accounting for 56% of the $3.5 million operating budget in 2016.
Corporate sponsors in 2016 included national and regional Leadership Sponsors like Founders Brewing Company, PNC Bank, X-Rite Pantone, Switch, West Michigan Honda Dealers, Kendall College of Art and Design of Ferris State University, Meijer and Amway and Premier Sponsors like CWD Real Estate Investment, Edward Jones, Haworth, Herman Miller Cares, ITC Holdings, Michigan Lottery, Steelcase and Wolverine Worldwide.
The remainder of the annual budget in 2016 came from foundation grants (22%); earned revenue from advertising, retail and registration fees (8%); city, county, state and federal funding (7%) and individual membership and donations (7%).
Foundation support also included funding from some DeVos foundations, representing 16% of the total ArtPrize budget in 2016. These were the Dick & Betsy DeVos Family Foundation, the Richard and Helen DeVos Foundation, the Daniel and Pamella DeVos Foundation, the Douglas and Maria DeVos Foundation, the CDV5 Foundation and the Edgar and Elsa Prince Foundation. Amway, the company founded by Rick’s grandfather, Rich DeVos, is also a leadership level corporate sponsor.
The remaining six percent of the budget funded by foundation grants in 2016 includes support from the DTE Energy Foundation, the Frey Foundation, the Peter C. and Emajean Cook Foundation and the Wege Foundation.
City, county, state and federal support totaling 7% came from the City of Grand Rapids, Downtown Grand Rapids Inc., Experience Grand Rapids, the Michigan Council for Arts and Cultural Affairs, the Michigan Economic Development Corporation, the Michigan Film and Digital Media Office and the National Endowment for the Arts.
ArtPrize has close to 1,000 supporters who belong to its membership programs. These programs, ArtClub and ArtFan, and an annual summer fundraiser called “One Wild Night” bring in 7% of the organization’s income. Earned income totaling 8% includes advertising, retail and registration fees.