The Toledo Museum of Art (TMA) is a groundbreaking pioneer in investing $1 million into Upstart Co-Lab’s Inclusive Creative Economy Strategy: the first ever of its kind in the United States. This initiative, set to invest in the fashion and film industries, among many others, opens the door to job creation, economic vitality, and most importantly, sustainable creative lives.

The Toledo Museum of Art (TMA) is proud to lead the way in investing $1 million in the new Inclusive Creative Economy Strategy launched by Upstart Co-Lab, a nonprofit impact investing leader connecting the capital with creative people and companies. This groundbreaking initiative is the first of its kind in the U.S., and TMA stands as an exemplary model for other cultural institutions to follow as they align their endowment investment strategies with their values and mission. The returns from this investment will help the Museum fulfill its mission and bolster its operating budget.

The strategy is set to invest in fashion, film and TV, video games, food, the creator economy, the visual art market, immersive experiences, health and beauty, and other creative industries with priority given to businesses founded by women and people of color. This investment will lead to the development of quality jobs, vibrant communities, and sustainable creative lives.

With a commitment to innovation, TMA proudly leads the way in numerous initiatives. Examples include being the first museum to have a named position dedicated to accessing and becoming a Certified Autism Center; purchasing and stewarding 62 housing units developed as low-income housing, keeping tenants in their homes, and committing to meet or exceed current levels of affordability in the future development; creating the Center for Visual Expertise (COVE), a business that has generated more than $1 million in profit by applying visual literacy methodologies to environmental, health and safety operations, creating safer workplaces; and being the first museum to present an exhibition in the metaverse.

Through this same lens of quality and diversity, TMA has recently partnered with Upstart Co-Lab. The two organizations are aligned in their focus on quality investments through equitable sourcing and due diligence. This will result in solid returns for all stakeholders.

To further hedge any downside risk, TMA was able to secure a generous anonymous donor with a history of arts advocacy. This donation is dedicated to guaranteeing any future losses to the Museum’s investment portfolio. Such a novel strategy demonstrates leadership in the creative economy and serves as an example for other museums and arts organizations to follow.

As a result, the Inclusive Creative Economy Strategy has attracted notable funders such as the Marguerite Casey Foundation, the Souls Grown Deep Foundation, and The Andy Warhol Foundation for the Visual Arts.

The Toledo Museum of Art represents a true pioneering spirit, having joined forces with Upstart Co-Lab to invest $1 million in their first-of-its-kind, Inclusive Creative Economy Strategy. Nationally, this investment sets a strong precedent for other institutions, ultimately benefitting creative individuals and businesses while providing attractive returns to the Museum’s endowment. Most importantly, by creating quality jobs and sustainable creative lives, the strategy is another example of how TMA is achieving its mission through innovative projects and initiatives—producing visible and lasting change today and in the years to come.