A new report for Business to Arts on private giving to the arts in Ireland has found that €16.2 million was invested in the arts and cultural sector in 2007.
‘Private Investment in Arts and Culture,’ a piece of research undertaken by Deloitte, looked at investment income for 128 arts and cultural organisations from business, individuals and foundations and found that 76 percent of organisations received some level of private investment.
Business, providing €13 million, represented the bulk of the investment through sponsorship, donations and company foundations, with 55 percent of business investment went to events and venues.
Typical companies supporting arts were consumer business, technology and the financial sector.
Nearly half of the arts organisations received support from individuals while 11 percent had investment from foundations.
Despite the recession, Business to Arts remains positive about the future and stresses the need for cultural organisations to improve skills in fundraising and developing partnerships with business. The full report is available on the Business to Arts website.