Art Basel sent around a press release this morning to announce their new partnership with Kickstarter, the culture crowdfunding site:

The Art Basel Crowdfunding Initiative will aim to catalyze international support for non-profit visual arts organizations worldwide by promoting outstanding projects to Art Basel’s extensive global audience.

With this new initiative, Art Basel will support the non-profit sector of the artworld, at a time when public funding for the arts has been dwindling. Designed specifically for non-profit arts organizations, the Art Basel Crowdfunding Initiative will offer visibility and support for a wide variety of artistic projects, including non-profit exhibitions, public installations, films, artist books, education programs, artist residencies, talks, conservation and archiving, and other innovative art projects.