Showing posts with label performing arts. Show all posts
Showing posts with label performing arts. Show all posts

Thursday, January 8, 2009

Continued Trouble for Arts Organizations

The faltering economy continues to take its toll on arts organizations across the country. The most recent such news comes from the Field Museum in Chicago, which lost a significant portion of its endowment due to declines in the stock market (see our President's comments on this here). As a result, the organization is facing some major decisions involving budget cuts, layoffs, and exhibits for the year.

While arts organizations are certainly not the only charities having trouble in these tough economic times, Charity Navigator has always maintained that they generally suffer more than other types of organizations. This is primarily because the needs they address aren’t considered to be critical by the general public; however, as we have pointed out in the past, cultural institutions play a larger role than you might think at first glance. If you’d like to support an arts organization, we suggest you research your donation before giving. You can view a list of highly rated arts organizations here.

Monday, October 6, 2008

Creative Approach for Arts Organizations

This recent Los Angeles Times article reports that arts organizations are using creativity to keep their revenue up during difficult financial times. No stranger to financial crisis, arts organizations have been seeing lower income since 2001, when a series of events including the World Trade Center attacks turned donors’ focus to more humanitarian causes. Since that time, dance companies, museums, symphonies and operas alike have been thinking of new ways to draw in audiences, including fresh approaches to traditional performances and expanded performance experiences. While many organizations have successfully increased attendance, there is a real danger that giving to arts organizations may drop off even further in the coming months. If you’re an arts lover, consider making a donation to one of these highly rated arts organizations and help secure the future of these important institutions.

Thursday, May 1, 2008

Arts Organizations Suffer in Economic Slowdown

When the economy starts to turn sour, consumers cut back on their unnecessary expenses. Charitable donations in general are often the first to go when recession looms. Some donors will still open their wallets for charities helping the less fortunate, but what about those organizations whose missions are less humanitarian in nature, like arts organizations? Most donors would rather give their money to a food bank or homeless shelter than an opera or orchestra.

Large arts institutions often invest large amounts of money in renovations and new construction. In this recent article, several institutions currently involved in such projects talk about how the recent downturn in the economy has impacted their operations. As these organizations look toward the future, planning for continued renovations and maintenance seems to be more and more impossible. If this trend continues, even planning for operations in the short term will become a challenge.

So what can donors do to help? Well, for one thing, don’t be so quick to eliminate funding for the arts from your budget. Remember that the impact of arts organizations extends outside the organization itself into the local community, and often impacts the local economy. If you must decrease your charitable giving, make sure you research the charities you are giving to. An organization that operates efficiently can do more with the same contribution than one that operates inefficiently. On our site, you can browse an expanded list of the Arts, Culture and Humanities charities, and filter them by criteria (including their rating) using the tools on the left side of the page.