Friday, February 18, 2022
A new report by The Conference Board and Americans for the Arts finds that companies that are continuing to fund the arts are increasingly partnering with arts organizations to address social challenges, including racism and other forms of inequality.
The survey also finds that the outlook for arts funding is largely stable. 75% of respondents continue to support the arts, despite the toll inflicted by the pandemic. Moreover, 72% plan on maintaining their current level of funding for the arts over the next three years, and 8% plan on increasing it.
The report’s insights reflect survey responses from more than 100 corporate citizenship and philanthropy professionals at public and private companies. The insights also reflect external research and informal discussions with member companies of The Conference Board that have expertise in corporate support for the arts.
Nolen V. Bivens, president and CEO of Americans for the Arts, commented, “Building genuine partnerships between the arts and business communities based on shared values, vision, and core mission areas benefit every participant in the arts and culture ecosystem. I am very pleased that 75% of businesses support the arts, and 62% use the arts to increase diversity, creativity, and innovation. It is clear that businesses are taking seriously their role in strengthening communities. The arts are a way to do this. Businesses also use their support for the arts as a means to address key local issues such as education, the economy, and public discourse. When we support the arts, we are getting more than cultural benefits – we are also building healthier communities that we want to live and work in.”