arts & business council

MetLife National Arts Forums Series

Arts & Business Council of Miami
Miami, Florida

New Arts Philanthropists: Will Retiring Baby Boomers and Gen X Entrepreneurs Become Important Donors
06/29/2005

Moderator: Anthony L. Rogers, Managing Partner of La Salle Financial Group, A MetLife company

Panelists:

• Ruth Shack, President, Dade Community Foundation
• Deborah Hoffman, President, Funding Arts Network
• Melissa Giles, Founder, Misto Marketing and Management, young entrepreneur
• Abbey Chase, President, Chase Marketing Group, Leave A Legacy Coordinator
• David Jacobson, Principal, Turbulence Advertising, young entrepreneur

One thousand new residents arrive in Miami each month. Many of these are retiring baby boomers seeking the sun and lifestyle of Miami. Others are young Gen X entrepreneurs from throughout Latin America and the United States seeking their fortune in our global business environment. These two groups are the future of funding for the arts in Miami.

Baby boomers are a metaphor for Miami—changing, growing, and staying engaged. Gen X in Miami is emboldened by the future and by the opportunity for meaningful engagement. Miami has something for everyone—hundreds of arts groups, festivals, and events. The Funding Arts Network has been successful in engaging both groups. Participants donate $1,000 to a funding pool. Members go through grants and decide what to fund. Baby boomers like the process because they feel like they are part of something bigger. They meet key leaders in the arts and have social opportunities. Gen X members like the process because they receive external gratification, learn about hundreds of arts programs, and see their donation as an investment, which is leveraged by the group. One Gen X entrepreneur and philanthropist explained that his generation is more personally motivated: “What is in it for me and how can the arts make my life better.” They embrace luxury and what is in, what has a buzz, and opportunities to connect with each other both technologically and through events and programs that speak to them.

One of the key discussion points was how do you engage people in a community where they have no roots? Baby boomers often fall in love with Miami, so even though they are not from here they become invested in making Miami great. They may give small donations to local programs at first. By engaging them, putting them in the limelight, arts groups can make a small donation turn into a substantial donation. The arts provide new residents with the community attachments they need to feel part of Miami. Many of the new Gen X residents are from Latin America, Cuba, and the Caribbean. Economic states and unrest throughout Latin America have brought young, eager, and often wealthy entrepreneurs to Miami. They give because they see Miami as providing them with opportunities, new ventures, and new wealth. They are often grateful and want to give back. Gen X is at home in a multicultural environment and embraces arts groups with multicultural programming and outreach. For baby boomers, especially those from northern cities, Miami’s multiculturalism and Hispanic influence is a barrier rather than an asset. When they first come to Miami, they gravitate to arts groups similar to the ones they left. Established arts groups are able to reach these groups and maybe help them explore contemporary and multicultural offerings in a “safe environment.”