Bruce Whitacre
The Experience Money Truly Cannot Buy?
Posted by Dec 06, 2010
Bruce Whitacre
We are tracking some interesting information as 2010 comes to a close. One of the obstacles to arts giving, according to the Triennial Report, has been corporate earnings. Yet we just concluded a quarter of record corporate earnings. What does this mean for the cultural sector as a whole? I’d like to explore a link we in culture don’t often make, although it is immediately apparent: the companies that support us are usually after someone else: our top individual donors!
Many companies draw upon NCTF to entertain high-end clients in New York and around the country. Demand for these services is climbing, and our conversations for 2011 are to a surprising degree about increasing engagement with theatre. Bigger budgets mean more to spend on top clients. Good times!
But are we positioned to make the most of this slow but now apparent recovery? I’ve been attending a lot of networking sessions that focus on the behavior of the affluent. After all, the single largest source of support for not for profit theatre is affluent individuals, and as I said, a great deal of our corporate giving is focused on chasing those same individuals.
But who are they, and what are they after? How have they changed in the last few years?
The most important point about the affluent is that they are older, generally above 55 years in age, and they grew up middle class. In other words, they’re mostly Boomers. And at this age, they have nearly all the things they want. So what’s next?
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