The Arts Council has today published a report, Irish Arts Sector, Private Investment Report: 2015, which identifies and analyses the level of annual private investment received by Arts Council-funded organisations. The report analyses private investment in 2013 and draws comparisons to the previous year, making it a useful tool for identifying trends and offers arts organisations a benchmark for the level of private investment peer organisations are attracting.
The report, prepared by specialist advisors and capacity builders for the not-for-profit sector 2into3, focuses on sponsorship and philanthropic income received by arts organisations. It analyses the investment received considering factors such as art form, organisation size and location. A comparison is also made between the diversification of arts organisations’ funding in Ireland and Britain.
In 2013, Arts Council funded organisations secured €7.6m in private investment with 57 percent from philanthropy and 43 percent from sponsorship. Compared to 2012, voluntary income has increased by 30%, while sponsorship increased by 5%. The reported total private investment increase is 18%. The study is based on comparative information submitted by 168 organisations.
While this increase is promising, there is considerable scope to increase philanthropic support. Arts organisations in Britain are attracting a 4.3 percent share of the all philanthropic giving compared to just 0.5 percent in Ireland.
The full report can be accessed here.