Arts Council England has published a new report into private philanthropy, donations from trusts and foundations and sponsorship in the arts and culture sector.
The survey shows the sector received £480 million worth of private investment in 2014/15, with around half of this (£245 million) coming from individual giving. Overall, private investment grew by 21%, primarily driven by high-value individual donations to larger organisations.
Private investment accounted for 18% of arts and culture organisations’ total income in 2014/15, and for those with a total income of less than £100,000, it was even more important, accounting for 29% of total income.
London-based organisations account for 66% of total private investment, which is broadly in line with their share of total income, and visual arts organisations have done disproportionately well, accounting for 32% of total private investment.
However, although the survey shows the importance of private investment, 63% of respondents felt that they didn’t have the capacity to make the most of their fundraising.
The Private Investment in Culture Survey was undertaken by MTM to provide an insight into how this income stream has developed over the three years since the last report undertaken by Arts & Business.
You can download a full copy of the report from the Arts Council’s website.