Spiral-bound limited edition program for the annual Artists Equity Masquerade Ball, entitled "1954: Improvisations," numbered 362/2000, 9.75 x 12, containing works by 49 artists including Julio de Diego, Chaim Gross, Bertram Goodman, Jacob Lawrence, Jack Levine, Ben Shahn, Louise Nevelson, and Raphael Soyer. From the preface: "This is Volume 5 of Improvisations. First conceived in 1950 from an idea by Julio de Diego, Improvisations has been accepted as a novel and original medium by advertisers in sympathy with the ideals of Artists Equity Association. The member-artists who illustrated the journal were selected by the advertisers and were given complete freedom of expression. Each page was designed by the artist directly on the litho plate, thus making this a collection of original lithographs. Spontaneity and fun, in the spirit of our annual Spring Fantasia Masquerade Ball, was the objective rather than orthodox merchandising." In very good condition, with moderate wear to the covers (including some scuffing and staining), and ink smudges to a few of the introductory pages.