Business Support for the Arts 2021
Corporate Support to the Arts in 2019
According to Giving in Numbers 2020 by Chief Executives for Corporate Purpose (CECP), the “share” of corporate philanthropy directed to the arts by large corporations decreased to 5% in 2019.
Business Leaders Support the Arts for its Benefits to Quality of Life and the Economy
Business leaders responding to the Conference Board’s 2019 Business Contributions to the Arts Survey indicated that they support the arts because it improves quality of life (62%) and strengthens the local economy (46%). The report also showed that companies are increasingly aligning arts contributions programs with business strategy and goals.
Corporate Arts Sponsorship Tops $1 Billion in 2018
- IEG reports that corporate sponsorship of the arts was $1.03 billion in 2018.
- The business sectors with the largest arts sponsorship activity are banks, professional services, financial services, insurance, and retail.
- The arts were projected to receive 4% of all corporate sponsorship in 2018.
With billions in arts funding, businesses play a key role in ensuring the health and vitality of the nation’s arts sector. Business support for the arts is driven less by a charitable focus than it is targeted on how the arts impact the communities in which their employees live and work.