The sample is small, so use the salt, but a new report about corporate giving does not bode well for arts organizations. As Donna Devaul, executive director of LBG Research Institute, wrote when I asked, “I’m afraid the news is not great for the arts–many corporations that have supported the arts have cut their funding.”
Well, we knew that, but LBG has put some new numbers on it, based on a survey of 440 corporations, of which 79 responded — about the same rate as LBG’s similar survey last November. Then, LBG projected that philanthropy budgets overall would drop by 3 to 5%; now, the numbers suggest overall corporate giving will fall this year by 7 to 9%. By comparison, the study says, after 9/11, corporate giving fell by 12.1%, according to Giving USA. (In 2008, Giving USA said in June, corporate giving fell by 8%.)
Only 4% of those that give to arts and culture are increasing those gifts in 2009 vs. 50% that are cutting back support to arts and culture.
LBG’s new report, called “Making the Most of What We Have: Corporate Giving in the New Economy” (press release is here; full report is for sale).
Even in good times, corporations provide only a sliver of support for the arts, really, but this is a moment when arts groups can use all the support they can get. Every dollar matters.