Pursuits
Business Donations to Arts Groups Fell in 2006-2009, Study Says
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The recession that began in December 2007 battered Gen Art Foundation, a nonprofit that promotes filmmakers and other artists. Gen Art saw steep drops in funding from American Express Co., Citibank N.A. and Honda Motor Co. The nonprofit closed in May, and an associated for-profit company, Generational Art Production Inc., went bankrupt in July.
“To see the company collapse over 18 months after building it and the foundation for 15 years was pretty devastating,” Ian Gerard, Gen Art’s executive director, said in a phone interview.