€13.3 million raised by participants in New Stream in 5 Years
February 25th, 2015Business to Arts today announced that €4 million in new income was raised by participants in New Stream in 2014. Over the five years of New Stream project, participants have reported raising over €13.3 million.
2014 marked the end of the fifth year of operation of the New Stream project which is supported by Bank of America Merrill Lynch; The Department of Arts, Heritage & the Gaeltacht; The Ireland Funds; and Business to Arts’ wider corporate membership base. 2014 also marked the culmination of the landmark initial two-year programme with the DeVos Institute of Arts Management at the University of Maryland. The programme provided a teaching and consulting programme to support 23 Irish organisations in artistic planning, fundraising, marketing, strategic planning, financial planning and board development.
Speaking about the results, Business to Arts Chief Executive, Andrew Hetherington commented that “the 5th annual assessment of New Stream serves a unique, long-term analysis of fundraising in the arts sector in Ireland. The work and changes implemented by participant arts organisations in the DeVos Ireland Programme are essential for understanding the context of arts fundraising success and challenges in an evolving political, social and economic context.”
Among key findings, the annual assessment reports that participants in the DeVos Ireland programme:
- are planning their artistic programmes further in advance, with the majority no longer planning less than 12 months in advance
- are improving their marketing activities, resulting in an increase in earned revenue (box office receipts, merchandise sales, rentals, etc.)
- 33% of participating organisations increased human resources dedicated to fundraising
- The majority have increased both the number of individual donors contributing to their organisations, and the revenue contributed from those donors
- Where Boards exist among participant organisations, they report a significant increase in board engagement
- 83% of participating organisations began, revised, or completed a Strategic Plan
Business to Arts are currently seeking applications for a 18 month programme with the DeVos Institute of Arts Management at the University of Maryland commencing in April 2015. Closing date for applications in March 5, 2015. Details of the application process can be downloaded here.
The annual Assessment of New Stream (2013/14) can be downloaded here.