Arts & Economic Prosperity IV is another seminal piece of research by the Americans for the Arts staff led by Randy Cohen. (Okay, so I am biased). But, passion for the arts runs throughout our organization. I hope to provide insight into how AEP IV might be used with corporate funding sources.
How to Use AEP IV with Corporate Funders: What Do the Numbers Mean?
It is probably a revelation to most corporate funders that the arts & culture industry generates $135.2 billion in economic activity, supports 4.1 million jobs, and generates an aggregate $22.3 billion in government revenue.
Some corporate funders may not be looking at how arts & culture within their community support their own business revenues or government revenues with expenditures on snacks and refreshments (think restaurants and restaurant suppliers), lodging (resorts or hospitality industries), transportation (buses/taxis), or retail establishments with shopping from clothing to gifts for home.
Corporate funders need to be shown the light. And if it is anything like corporations I have worked for, what turns the light on in corporations are numbers and quantitative data. Why?
Whoever you have approached with the data needs to deliver it to someone else, who will then deliver it to another layer of management, and so on before a decision is made. That includes the CEO.
But, may I clarify a point about “corporate funders?” It is no longer just a decision made in the executive suite with the CEO or CFO of the company. A “corporate funder” decision-maker might be found within the sales and marketing, human resources, or corporate communications departments. The numbers and the rationale for funding arts organizations based on the data needs to resonate with all of these people. Read the rest of this entry »