A small group of friends started a foundation called The Federation of Students and Nominally or Unemployed Artists to challenge and encourage people to take time out of their days, weeks, and months to create things.  They each raised some money, set up a booth in a park, and issued "instant grants" of $10-60 for anyone who pitched a proposal of something they wanted to make.

A simple website called The Generosity Foundation includes further explanation of the project and photographs of a few grant recipients.