Tuesday, October 12, 2010
At a time when fundraising has gotten increasingly difficult, a California art foundation plans to support its activities by raising medicinal marijuana. The New York Times reports that Life Is Art will soon sell its first marijuana crop. The goal is to grow enough pot to raise about $1 million next year. The director notes that producing income through labor feels more honest than trying to get money from donors during difficult economic times, and some of the artists whose work will be exhibited at a show opening Oct. 22 have helped with the harvesting operations. The New York Times article mentions drug-crime concerns as a possible problem, but does not talk about whether the pot-growing operation will generate unrelated business taxable income.