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Artery Cooperative Limited is a registered non-trading cooperative. We operate within a set of rules based on the model rules for co-operatives by the Victorian Department of Justice, Office of Fair Trading. Artery has 15 members/shareholders. We have a five-member board of directors consisting of a chairperson, treasurer, secretary and two non-executive directors. Directors are legally responsible for the operation of the cooperative. Half of the board retire annually. Artery was started by a group of artists wanted greater professionalism, greater control over their careers as working artists. Basically we didn't want to be trapped in a rent/debt cycle so common within the art world. Our main objective is to have ownership of our future. In concrete terms, that means purchasing a building that will house our studios and workshop facilities. it is important that our working environment be a OH&S compliant. While trying to work out a way to purchase our own building we realised we needed a place in which we can continue working. So we leased the two Helen Street factories in which we have set up our workshop and fitted-out 23 variously-sized and appointed studio spaces. The studios have freshly plastered and painted walls, new doors, power outlets, locks and light fittings. Cooperative members contribute a regular membership fee. This fee pays off the purchase of a share in the cooperative. We have also set aside contributions towards a workshop/equipment fund, which we use on occasion to purchase necessary equipment. |