Magazine article Art Monthly

Too Much Trust

Magazine article Art Monthly

Too Much Trust

Article excerpt

Arts & Business, the Association for Business Sponsorship of the Arts, has published its annual survey of private investment in the arts in England. Happily, in the period 2011-12 there was a rise in total private investment in the arts, up [pounds sterling]46.8m to [pounds sterling]660.5m, which A&B claims equates to 21.9% of all arts funding. However, for some reason A&B classes not only gallery membership fees, both private and corporate, but also business sponsorship as 'private investment' rather than as 'earned income', as if these were not commercial services that involve buyers purchasing particular benefits - the subsequent effect being that the figures suggest that arts organisations are more dependent upon private philanthropy than is in fact the case.

A&B divides 'private investment' into three categories: 'individual giving', up [pounds sterling]22.9m to [pounds sterling]372.9m (almost as much as the [pounds sterling]394m ACE received from the government that year, and more than the [pounds sterling]325m ACE distributed to its National Portfolio organisations); 'trusts and foundations', up [pounds sterling]23.7m to [pounds sterling]173.8m; and 'business investment', up [pounds sterling]0.2m to [pounds sterling]113.8m - although this is below the rate of inflation and so is effectively a real-terms cut, continuing a trend that has seen business investment in the arts fall in real terms every year since 2006-07. Business funding for the arts is further broken down into four separate categories: sponsorship, which makes up about 60% of all business investment in the arts, which remained steady; corporate membership fees which rose slightly; in-kind support which dropped; and donations which fell, and make up only 12% of business investment in the arts. In short, the two categories that involve fairly straightforward commercial transactions, in which businesses directly receive services or marketing value in return for their cash (not to mention the fact that the funds can be claimed as expenses), held steady, while the two that offer a less immediate return both fell. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.