A new program will award grants ($250-$2,500) "to support new works in all areas of visual, literary, and performing arts in the creation, development, and/or completion stages."
Administered by the Urban Artist Initiative/New York City (comprised of the Asian American Arts Alliance, Association of Hispanic Arts, Harlem Arts Alliance, and Queens Council on the Arts, with the Bronx Council on the Arts and New York Foundation of the Arts), the program is currently open to applications "from individual artists of color of African, Asian, and Latino descent who reside in the five boroughs of New York City."
Full guidelines and application available here. Application deadline: July 20, 2006. There's no application fee.