One of our priorities for this period is strengthening business models in the arts and helping arts organisations to diversify their income streams, including by encouraging private giving. We believe there is an opportunity to attract more private giving and help a wider range of organisations to benefit from it.
Through Catalyst Arts, we have introduced four schemes:
- a £30 million scheme offering match funding to arts organisations with a successful track record of fundraising to help them build endowments by July 2015, to provide an annual income for a minimum term of 25 years
- a £30 million match funding and capacity buildingscheme. This scheme supports the sector'sefforts to improve capacity in fundraising and provides an incentive for donorsto give to the arts
- a £7 million capacity-building scheme for consortia of organisations with limited or no fundraising experience
- we are commissioning advice and support for the arts sectorto develop and professionalise core fundraising skills in the arts
We are building on the work of the Cultural Leadership Programme and investing in leadership development opportunities for arts, museum and library leaders. This scheme will focus in particular on diverse leaders.
We aim to support a network of arts leaders who value sharing their knowledge and skills for the benefit of the arts and civil society and continue to promote greater collaboration between organisations.
During 2013 and 2014 we will explore schemes to support resilience and develop core business competencies across the cultural sector.