Government budget deficits and budget limits of charitable foundations have made alternatives for financing arts projects more important.
Five programs in Los Angeles this February showed that many other approaches to funding the arts can work well—and help arts organizations boost participation at the same time. Each program has taken a different approach to raising funds from private sources, demonstrating that there are many different choices that match the needs of different communities.
The Princess Grace Foundation USA celebrated its 30th anniversary with a reception for past grant winners in Beverly Hills and a gala for patrons in Orange County. Generous contributions from patrons of the arts and several corporate sponsors have raised much of the $8.5 million in grants that the organization has awarded to promising artists and arts administrators.
But a significant source of funding for these grants comes from licensing projects and exclusive commemorative “Princess Grace” limited editions. The licensing program is highly selective and this has furthered traditional fundraising by prestigious associations with licensors, including Estée Lauder Cosmetics and Mikimoto Pearls.
Seven private companies and two nonprofit film festival organizations joined the Italian Trade Commission and public cinematic arts academy to present a weeklong festival of Italian art, fashion and cinema called “Los Angeles Italia.” Read the rest of this entry »