Well here is a novel idea for funding an arts organization–using the proceeds from leasing space in storage vaults.
The inspiration for building the largest underground storage vault in China was finding a way to fund an art museum.
The idea for the vault came to the company’s founder, Liu Feiguo, while he was lobbying to open an art museum in the Shanghai Tower. He realized that the high revenues from the Baoku Treasury could fund the museum’s daily operations.
Baoku Treasury clients are given a 15-year membership pass to the Shanghai Guanfu Museum and the Baoku Art Center, allowing free access to exhibits and events. Most of the proceeds from deposit box sales are reinvested in the museum.
Baoku China has already announced plans to expand and build community vaults. According to Zhou, “Community vaults are actually cheaper to build than high-end swimming pools.”
It isn’t cheap to rent a deposit box and the security measures sound like they are from a Mission Impossible movie. The least expensive option is $10,300 for 15 years. I assume since clients get a 15 year membership pass to the museum and art center that must be the standard lease length.
This exact idea probably isn’t viable for everyone and everywhere, but shows a little creative thinking may be worthwhile.