Yes, this can be structured as a Non-profit for promoting the arts. You will need to build this carefully and be true to the meaning of being a "non profit". No scalping of tickets etc.

I have a Masters in Non Profit Management and have created and run numerous non-profits.

I'd be happy to walk you through the process of setting it up and watching out for pitfalls. Including filling the necessary paperwork, raising money and creating a board of directors.