Scottish increase of 6% in real terms to £41.7m compared with UK average decrease of 3%
Business investment holds steady in real terms
Individual Philanthropy down 7% in real terms
Trusts and Foundations increase by 48% in real terms
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Arts & Business’s survey figures released today, reveal that in 2009/10, private investment in culture in Scotland stood at £41.7 million, a 6% increase in real terms from the previous year. Since Arts & Business first started capturing this data in 1976, private investment in the arts has been following a general upward trend. Although 2008/9 saw an overall decrease, the combined sources of private giving have again shown an increase.
The overall private investment increase is due to a significant boost from Trusts and Foundations, that is the result, in part, from support for major capital projects.
Individual Philanthropy decreased for the second year in a row, continuing the interruption of its growth since 2001. In recognition of this negative shift, Arts & Business is working with the Centre for Charitable Giving and Philanthropy to attempt to redress the fall in arts philanthropy.
Business investment in Scotland increased in line with inflation in contrast to an average fall across the UK of 11%. We believe that this was in part to the Scottish Government’s continued funding to Arts & Business Scotland for the New Arts Sponsorship grants scheme that encourages new business sponsorship.
Trusts and foundations – Scottish cultural organisations raised an additional 48% in funding from trusts and foundations compared with the previous year. This is far in excess of the UK average increase of 11%. This success built on the previous year’s significant increase of 20%. In both years large grants for major new capital projects was a major element.
Click here to access the map, benchmarking tool and the rest of our research on private giving to the arts