To the Ford Foundation Grant Review Board:

High upon the façade of the Uffizi Gallery, the crown jewel of Florence's Renaissance and medieval art
museums, an enormous neon blue LED sign, created by artist Maurizio Nannucci, reads “ALL ART
HAS BEEN CONTEMPORARY.” Ironically, this sign itself is one of the only prominently displayed
works of contemporary art (art created post-WWII) within the city’s walls. To see a complete
collection of contemporary art you have to travel to the neighboring city of Prato. Enter il Centro per
l’Arte Contemporanea (iCAC), or the Contemporary Art Center. This venture, pioneered by myself
with financial backing from my family’s trust, seeks to fill this void and rectify several other
disparities in the museum and gallery scene which I observed while living and studying in Florence.

While the exquisite historic collections showcased in Florence’s state and national museums are
invaluable and provide great fare for tourists, the lack of organization and of educational programs, as
well as the static nature of these collections, leave something to be desired for students and residents of
the city. iCAC will fill these needs and more thanks to its galleries featuring stimulating impermanent
exhibitions, its educational programming for students and other patrons, and its facilitation of social
and cultural events by private organizations and iCAC itself. Florence is a vibrant, trendy Italian city.
It is home to thousands of American students, as well as Italian students and young adults. These
groups will embrace iCAC’s unique blend of art exhibition and education with social gatherings.

The mission of iCAC is to provide provocative, inspirational exhibitions, events and programming in
order to educate, entertain, and facilitate communication between students and patrons from within
Florence and around the world. iCAC is a nonprofit organization. iCAC’s exhibitions, programming,
and operations are member supported and privately funded through contributions from individuals,
corporations, and foundations. Currently, iCAC is seeking financial support for the development of our
student gallery and educational programs. The pages of this report provide detail about the organizational
and financial structure of the Center, as well as its contents and marketing strategies. This gift will
further some of the Ford Foundation’s overall goals of supporting innovative thinkers and
organizations, while promoting free expression. As you read, please carefully consider the tremendous
positive impact your contribution can make in enriching the lives of students of the arts in Florence and
beyond.

Lisa Mongillo
iCAC Chief Operating Officer

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Florence is universally recognized as a city of art, thanks to its incalculable storehouse of
works, which transform the city’s streets and plazas into a vibrant open-air museum.
While the walls and structures that make up the city center are ancient, the people of
Florence are youthful, spirited and vivacious. They are proud of their Renaissance
history while still embracing new trends and technology. Each year the city is also
flooded with thousands of American college students, most attracted by the chance to
study art in a place where it is so ubiquitous.

Centuries ago, Florence was the artistic and cultural center of Europe, home to such
forward-thinkers and revolutionaries as da Vinci, Michelangelo and Machiavelli. The
4 iCAC will facilitate this same innovative and ingenious atmosphere. It will provide a
place for Italians, Americans, and others to celebrate, create and explore the boundaries
of contemporary art forms.

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 Key to the success of the iCAC is the ability of the
staff to build a quality and recognizable brand
around the collections, programs, and opportunities
at the Center. The world’s most prosperous
museums and galleries of contemporary art works
have achieved their rankings because of their ability
to create this brand. Examples include the Museum
of Modern Art (MoMA) in New York and the
Guggenheim museums located in several cities
around the globe. Smaller establishments, such as
the Museum of Contemporary Art (MCA) in Chicago, are constantly working to
gain higher levels of prominence through cultivating new programs and services,
while showcasing increasingly innovative exhibitions and events.

The iCAC will work to achieve distinctive brand recognition, first in Florence and
then internationally, through providing a unique set of programs, services and
exhibitions for our target markets. These targets, described further on the next page,
include American students, Italian students and young adults, art connoisseurs, and,
due to the villa’s important function as a stunning and functional venue, special
events’ planners. Additionally, offering quality merchandise and maintaining
consistency in our message, logo and rhetoric across all advertisements and
publications will help to build brand awareness throughout all markets. The
International Council of Museums (ICOM) defines a museum as the following:
“A museum is a non-profit, permanent institution in the service of
society and its development, open to the public, which acquires,
conserves, researches, communicates and exhibits the tangible and
intangible heritage of humanity and its environment for the purposes
of education, study and enjoyment.”
The Center will work towards fulfilling many components of this definition, with
particular emphasis on communicating and exhibiting works for “education, study,
6 and enjoyment.” Through the programs, services, and products used to achieve
those goals, we will develop a highly recognized and respected brand around the
iCAC name

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 Over 6000 American
students study in Florence
every year, the majority
going to study art. While
they are attracted by the
city’s Renaissance
treasures, these students
embrace the city’s modern
aspects as well. Much of
the student artwork created
combines the Renaissance
tradition with a modern
twist
Italian high school
students pride themselves
on being trendy and
fashionable, whether they
are riding the latest Vespa
model around the city or
modeling this season’s
Gucci boots.
Ask any young adult in
Italy what their favorite
city to be in is, and there is
a strong chance that he or
she will enthusiastically
respond with “Firenze,
certo!” This demographic
loves the vibrant nightlife,
high fashion, and great
opportunities abundant in
the city.

Cultural, corporate and Florence attracts art

private events are
copious in Florence.
Event planners
constantly search for
scenic, striking locations
7 to host affairs on behalf
of their Italian, American
and international clients.
enthusiasts from all over
the world to study and
marvel at its works of
art. This group craves
new sites and sources for
art exhibitions and
programs.

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The iCAC staff will use a multi-level marketing campaign in order to raise awareness of
the Center and drive up ticket sales and event rentals. This campaign focuses on 3 areas:
events, advertisements, and grassroots efforts.

Events:
1. Grand Opening: The opening of the iCAC will be a large-scale, formal event aimed
at attracted the art connoisseur target market.
2. Apertivos: One of these cocktail-hour events will take place each Wednesday
evening at the iCAC. Each apertivo will feature drinks, appetizers, and music, along
with the chance to view the artwork and grounds in a more personal setting. These
events are targeted at both art connoisseurs and young Italian adults.
3. Facility Tours: These tours, given by interns or other staff members, will focus on
the different aspects and advantages of using the iCAC as a venue. The tours are
aimed at attracting planners for private and corporate events.

Advertising:
A city-wide advertising campaign will work to bring awareness to and raise curiosity
about the iCAC. The theme of this campaign is (in English and Italian):
Art is ________.
l’Arte è _________.
Americans and Italians will be asked to fill in the blank of this statement. Their answers
and pictures will become part of the campaign. Contemporary art is known for pushing
the boundaries between what is considered valuable work and what is considered
tomorrow’s trash. Focusing on this controversial side to the art featured in the iCAC will
spark interest in potential patrons. Featuring regular people and their thoughts in our ads
will also help display the intimate, interactive aspects of the iCAC.

Grassroots:
A grassroots campaign will focus on the target markets of Italian and American students.
This low-cost campaign will feature:
• The iCAC website
• Facebook and Twitter marketing for events and programs
• A viral video contest for video responses to the “Art is _____.” campaign
• Partnerships with American study abroad programs in Florence
• Partnerships with Italian schools

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This component of iCAC plays two
roles. First, it is a piece of art in itself.
The design of the theater is simple and
complementary to the landscape, as seen
in the pictures here. Interspersed among
the rows are several sculptural
silhouettes. Some of these are the
silhouettes of famous people selected by
iCAC staff. Other silhouettes are
designed by substantial iCAC donors.
For example, one donor chose to remain
anonymous but have the silhouettes of his daughter and grandson immortalized in
the theater. Other important donors and corporate partners have the opportunity to
have their names inscribed on rows of the theater. The second role of this structure
is as a fully functional theater. It is meant to serve as a venue for concerts, lectures,
and other performances. It can be used both for programs put on by iCAC and for
corporate or private events.

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 This gallery will feature temporary exhibitions of collections of works, or
of a single installation, by a current, established or up-and-coming artist. These
exhibitions will provide an in-depth look into the artist’s work and process. An
endowment will specially fund this gallery.
Each exhibition will feature an opening apertivo event, along with a gallery
talk by the artist. Students will also be given the opportunity to speak with the
artists at a special student meet-and-greet event.
The first exhibition in this gallery will feature the work of Jeff Koons,
Koons one
of the most popular and top-grossing contemporary artists alive today. This
exhibition is made possible through a partnership with the Broad Art
Foundation, which owns one of the world’s largest collections of contemporary
art and will loan several of Mr. Koons’ pieces, and the cooperation of the artist
himself, who has collaborated on projects with iCAC staff members in the past.

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This gallery will house exhibitions that feature the works of multiple artists
under one of the following categories:

• Works assembled that correspond to a specific theme or subject

• Works created in response to a prescribed theme or subject
• Works created from a certain material or technique
• Traveling exhibits
Funding for these projects will typically come from an endowment. For special
exhibitions that will feature new compositions or installations created by artists,
architects, or engineers in response to a given topic, grants may be sought out in
order to cover the additional costs.

The themes for these exhibits will vary but will likely include current social,
environmental, economic, and political issues. We will focus on the issues most
likely to spark the interest of our target markets.

The first exhibition in this gallery revolves around the subject of Globalization.
Globalization
It will feature works by well-regarded artists from around the world. The pieces
displayed will include works on loan from the Broad Art Foundation, the Saatchi
Foundation, the Museum of Contemporary Art in Chicago, and other private
collections.

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 This gallery is a unique concept, setting
the iCAC apart from the common
museum and making it more of an
interactive center for students, creators,
and patrons of art.

The Student Gallery will feature exhibits

under one of the following categories:
1. Works by students in a particular
school of program, selected by their
instructors with the help of museum
staff.
2. Works submitted by students from
any school or program in response to
a given subject or topic.

The first exhibit in the Student Gallery will feature paintings, drawings and
sculptures created in response to the iCAC’s “Art is ________.” marketing
campaign. Students will be given a deadline by which to submit their creations
and then the curatorial staff will evaluate all entries, using selected pieces to
create the exhibition.

This gallery is not meant to be a venue for students to attempt to sell their
artwork, it is meant for display and educational purposes only.

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 Education is a vital part of the iCAC’s values and goals. Educational programs and
services dramatically increase the quality of an individual’s experience at a museum
or gallery, while also increasing overall foot traffic by enticing first-time and return
patrons. While the current museums in Florence feature priceless collections, they
are severely lacking in organized educational programs and other visitor services.
This is a department where the iCAC can truly distinguish itself.

This department will facilitate the following programs and services:

Daily tours

Available in English, Italian, French, German, and potentially other languages

Guided Tours: given by trained volunteers from Richmond University in Florence

Mobile Tours: audio recorded by our guides, available through an application on your
phone

Gallery talks by artists

Lectures by artists, curators, museum staff, architects, and others

Artist-led workshops and master classes

Staff-led workshops and master classes

Funding for these programs relies largely on income from endowments, as well as
individual and corporate contributions.

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 An important function of the iCAC is its
availability as a venue to be rented for
special events. The iCAC provides a
unique setting for weddings, corporate
meetings and events, private parties,
concerts, performances and more. Location
in the magnificent hills of Florence, this
one-of-a-kind setting offers both a
traditional and contemporary ambiance for
guests to mingle amid the galleries, garden
and terrace.

The conference room, educational center,

and outdoor space can be tailored to the
renters’ needs. Concerts and performances
can be held indoors or outside at the
amphitheater.

Individuals or organizations that are

contributors at the $500 level or above are
eligible to rent the Center for their events.

Rental fees derived from this department

are an important source of revenue for the
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 This integral department is focused on developing the iCAC through
obtaining grants, growing endowments, and getting donations, as well as
fostering corporate partnerships and individual memberships.
Fundraising is facilitated through:

Meetings with individual potential donors

Presentations to corporate groups

Applications to private foundations

Fundraising events such as galas and auctions

Keeping positive and ongoing relationships with donors is key to meeting

continued financial needs. Donor relations are enhanced by:

Membership benefits (exclusive access to exhibits, etc.)

Semi-annual reports

Unique opportunities for donor recognition

Name plates in the atrium

Silhouettes in the amphitheater

Sponsorship of a particular staff position (i.e. the Pritzker Director)

Recognition at museum-sponsored events and in semi-annual reports
* See page 29 for information on the benefits the Ford Foundation can
receive by becoming a contributor

The foundation has received significant contributions from the Andy Warhol
Foundation for the Visual Arts, the Foundation for Contemporary Arts, and the
Creative Capital Group, among others. The Pritzker Foundation has committed
to sponsor the salary of the iCAC Director (now to be called the iCAC Pritzker
Director). Corporate partnerships have been formed with companies such as
17 Patrizia Pepe and Ferragamo, two Italian fashion labels enticed by the idea of
hosting future events at iCAC.

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 iCAC partnered with Principe Corsini, a prominent local Tuscan wine and olive
oil producer to offer a line of wines and olive oil exclusively available through the
iCAC store. The initial product offering includes a white wine, a red wine, and
extra virgin olive oil.

The bottles, displayed below, feature labels depicted examples of artwork found at
iCAC. The white wine bottle and red wine bottle feature pictures from the
Center’s sculpture garden. The olive oil bottle’s label will change quarterly, each
time featuring an image from a student’s artwork. The label seen here displayed
the work of student artist Katherine Baird, age 21.

Birillo Chianti Classico Extra Virgin

18 Vermentino Olive Oil

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 INCOME STATEMENT

REF YR1 YR2 YR3

A, D Revenue $7,087,498 $7,796,234 $8,628,087
B Cost of Sales $288,149 $347,147 $419,953
Gross Profit $6,799,349 $7,449,087 $8,208,134

Expenses:
C Labor $1,680,000 $1,713,600 $1,747,872
H Maint/Repair $28,000 $28,000 $28,000
E Utilities $260,920 $260,920 $260,920
Insurance $100,000 $100,000 $100,000
G Advertising & Marketing $520,000 $390,000 $429,000
J Fundraising $462,000 $498,960 $531,300
L Programs $1,386,000 $1,663,200 $1,995,840
I Other (Supplies, Travel) $42,500 $42,500 $42,500
M Depreciation $160,368 $160,368 $160,368
Total Expenses $4,639,788 $4,857,548 $5,295,800

Operating Income $2,159,561 $2,591,539 $2,912,334

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 Worst Case Scenario
YR1 YR2 YR3
Revenue $5,315,624 $5,457,364 $6,471,065
Cost of Sales $288,149 $347,147 $419,953
Gross Profit $5,027,474 $5,110,217 $6,051,112

Total Expenses $4,639,788 $4,857,548 $5,295,800

Operating Income $387,686 $252,669 $1,186,717

Best Case Scenario

YR1 YR2 YR3
Revenue $7,796,248 $8,965,669 $10,353,704
Cost of Sales $288,149 $347,147 $419,953
Gross Profit $7,508,098 $8,618,522 $9,933,751

Total Expenses $4,639,788 $4,857,548 $5,295,800

Operating Income $2,868,310 $3,760,974 $4,637,951

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 SOURCE & USE OF FUNDS

Ref Year 1 Year 2 Year 3

Beginning Balance $0 $19,046 $3,876,954

Source of Funds:
K My (Family) Contribution $5,100,000 $150,000 $150,000
L Grants & Contributions $4,655,000 $4,887,750 $5,132,138
L Endowment Income $350,000 $378,000 $415,800
A Merchandise Sales $960,498 $1,157,156 $1,399,842
A Ticket Sales $1,122,000 $1,373,328 $1,680,307
A Event Fees $520,000 $627,900 $758,190

Total Source $12,707,498 $8,574,134 $9,536,277

Use of Funds:
M Initial Capital Purchase $5,018,400 $0 $0
M Initial Construction $3,000,000 $0 $0
N Furniture & Fixtures, etc. $15,000 $0 $0
O Start-up Costs $350,000 $0 $0
Expenses* $4,305,052 $4,697,180 $5,135,432

Total Use $12,688,452 $4,697,180 $5,135,432

Ending Balance $19,046 $3,876,954 $4,400,845

*Ex. Depreciation

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