The Arts Exchange has successfully leveraged the highly effective Rhode Island Historic Preservation Tax Credit program to help pay a large portion of the costs associated with the first two phases of renovations. The Arts Exchange has raised more than $1.8 million from the sale of these tax credits. As long as the Rhode Island General Assembly keeps this valuable program in place, The Arts Exchange expects to recover more than 25% of the costs of the remaining renovations through the sale of Rhode Island historic preservation tax credits.

The Arts Exchange has contracted with an investor in federal historic rehabilitation tax credits who will pay for tax credits earned from the Armory’s second and third phases of renovations. The Arts Exchange has already realized nearly $1 million from these federal tax credits.

The Arts Exchange has raised monies through large-scale governmental grants such as Save America’s Treasures, state preservation grants, Community Development Block Grants.

The Arts Exchange has also raised significant funds from foundations, corporations, and individual donors.