047: Arts & Numbers | Financial Advice for Artists with CPA Elaine Grogan Luttrull

with host artist Miriam Schulman

Today, I’ve invited a guest expert in financial education for artists, because when you’re in business, you can’t ignore the numbers!


In this podcast, you will discover…

  • How to identify your business blind spots
  • Why thriving artists need to expand their capacity
  • Why it is important to learn financial education from someone who works with artists

Links Mentioned

About Elaine Grogan Luttrull

Elaine Grogan Luttrull, CPA-PFS, AFC® is the founder of Minerva Financial Arts, a company devoted to building financial literacy and empowerment in creative individuals and organizations. Her workshops and presentations have been featured nationally by the DeVos Institute of Arts Management, Americans for the Arts, the Arts & Business Council of New York, the College Art Association, Playwrights of New York, the Lark Play Development Center, Theatre Communications Group, the Pew Center for Arts & Heritage, the Juilliard School, the New England Conservatory of Music, Rhode Island School of Design, the Ohio Art League, the Ohio Arts Council, the Indiana Arts Commission, the Kentucky Arts Council, the Greater Columbus Arts Council, the City of Bloomington, the Broward County Cultural Division, and the Foundation Center.

Elaine teaches at the Columbus College of Art & Design, where she served as the Department Head for Business & Entrepreneurship from 2014-2018. Previously, Elaine served as the Director of Financial Analysis for The Juilliard School and in the Transaction Advisory Services practice of Ernst & Young in New York.

Elaine is the author of Arts & Numbers (Agate, B2 2013), and she contributed regularly to Professional Artist magazine. She is based in Columbus, Ohio where she serves on the boards of the Short North Alliance, Social Ventures, and the Financial Therapy Association.

IG: @MinervaFinArts
Facebook: /MinervaFinancialArts
Twitter: @MinervaFinArts

About the host, Miriam Schulman

In case we haven’t met yet, I’m an artist and founder of The Inspiration Place, where I help other artists learn how to profit from their passion. Through online classes, business coaching programs, and a top-ranked podcast, I’ve helped thousands of artists around the world develop their skill sets and create more time and freedom to do what they love. My signature coaching program, The Artist Incubator, helps artists go from so-so sales to sold-out collections.

A graduate of Dartmouth College and M.I.T, I initially pursued finance but after witnessing 9/11, I abandoned a lucrative hedge fund job to work on my art full time. Since then, my art and my story have been featured in major publications including Forbes, The New York Times, Art of Man, Art Journaling magazine as well as featured on NBC’s “Parenthood” and the Amazon series “Hunters” with Al Pacino. My forthcoming book with HarperCollins Leadership on how to make it as an artist is scheduled to be released January 31, 2023. When I’m not in the studio, you can find me hanging out with my husband, adult kids, and a tuxedo cat named Ebony. I’d love to invite you to check out one of my free resources for art lovers (of every passion level) at schulmanart.com/freebies


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Listener shout out of the week!

Listened to Breaking Free of the Golden Handcuffs. Very powerful! I too remained in a position far longer than I should have: it was not a high powered position but it was well paying. However, omg, it was soul sucking and excruciatingly boring and monotonous. It allowed me a lot of things I would not have had if I worked in an office, gave me the opportunity to travel, some nice jewelry 😉 It didn’t give satisfaction, though. Eventually I left, pursuing university education. That was considerably better but proved not to be exactly what was in my heart: there was always the desire for art in some form or other. Listening to the experts I sought more sensible solutions. Did this provide either security or financial rewards, no, not at all. Had I listened to what I always knew, go with my gut/intuition, I could have saved years of frustration. Now I am making some real progress in developing my art. It really is not too late :).

~Carol Fillmore


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I’m Miriam Schulman, your curator of inspiration.

I inspire art-lovers to reconnect with their creativity and profit from their art. Whether you paint simply for the joy of it or you’re serious about selling your work, and you’re ready to stop putting yourself on the back burner...You're in the right place. I've done it and I can inspire YOU how to do it too.

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