arts & business council

MetLife National Arts Forums Series

Arts & Business Council of New York
A Division of Americans for the Arts
New York, New York

Transfer of Wealth: Engaging the New Generation of Philanthropy
05/18/2005

Moderator: Alberta Arthurs, consultant/writer; Former Director, Arts & Humanities Program, The Rockefeller Foundation

Panelists:

• Heather Hitchens, President, Meet the Composer
• Karen Brooks Hopkins, President, Brooklyn Academy of Music
• Danny Simmons, Visual Artist; Co-Founder, The Rush Philanthropic Arts Foundation
• Christopher E. Vroom, Founder and President Artadia: The Fund for Art and Dialogue

Shifts in the demographics of the American public, as well as the challenging global and domestic economic climate, have changed the ways arts organizations interact with the private sector with respect to funding and other support. Two key age-related changes are having a significant effect on private sector giving to the arts:  (a) baby boomers are entering retirement in record numbers, leaving leadership positions in business and the community and potentially becoming a social resource of unprecedented proportions; and (b) at the other end of the age spectrum, Generation X is moving into leadership roles, creating the need for new ways to be found to target such emerging philanthropists.

As corporate philanthropy changes, there is a need examine how some communities have been effective at moving beyond direct corporate giving and attracting support from such programs as employee giving and corporate matching. 

The Rush Foundation, begun by Danny and Russell Simmons, seeks to discern the particular needs of individual, corporate, and foundation donors and develop programs and activities that meet such needs. Artadia, begun by Christopher Vroom in 1998, secures support from donors who wish to be closer to the creative process and see the impact of their support, an important aspect for the new emerging philanthropists. Meet the Composer recently developed a new initiative that secures funds to commission new work from individual donors. Key to the success of this effort is the desire of donors to become more involved in the creative process. Karen Brooks Hopkins of the Brooklyn Academy of Music (BAM) stressed the need to pay close attention to the loyal supporters of one’s organizations. Do not neglect your base, but rather seek to encourage existing funders to expand their support.

All the panelists agreed that there needs to be a greater effort to convince potential funders and the public of the importance of the arts to society as a whole and to their own well being. It is crucial to dispel the widespread notion that the arts are an “elite” activity, accessible only to a limited number. Arts organizations need to do more to engage their local communities.  Experiencing the arts needs to be viewed as an educational activity worthy of support in itself as a part of everyday life.