Business for the Arts announces first-year results of national artsVest™ program

Business for the Arts, Canada’s national association of business leaders who support the arts, has announced the first-year results of its national artsVest™ program. artsVest is a sponsorship training and matching incentive program of Business for the Arts delivered with funding from Canadian Heritage, provincial and city partners, and in-kind support from partner arts councils and cultural organizations in each province and city.

The program’s goal is to assist small- to medium-sized arts and culture organizations in the development of new and mutually beneficial partnerships with local businesses. The funds flow entirely as matching incentive grants to local arts and culture organizations who successfully secure sponsorships with the business community.

The 2011-2012 communities included five municipalities in Ontario (Markham, Hamilton, Barrie, Guelph, Huntsville); Regina, Saskatoon and seven districts in Saskatchewan; and Winnipeg and Calgary. From April 1, 2011 to September 30, 2012, the program:

• reached 123 cultural organizations who received artsVest matching grants
• partnered participating cultural organizations with 461 businesses, of which 320 were first-time business partners and 134 were long-term sponsorships
• generated $1,918,589 in new private sector investment from $840,189 in matching funds
• resulted in an influx of $2,758,778 to the cultural economy

“We are delighted by the fantastic first-year results and congratulate all of our 2011 artsVest participants across the country,” said Nichole Anderson, President & CEO of Business for the Arts. “The national roll-out of artsVest in these communities has helped to create meaningful and lasting partnerships
between cultural organizations and local businesses, and generate awareness about the importance of private sector support of the arts.”

To read the complete report, click here.

artsVest Ontario Year One Results
Due to artsVest National expansion in Ontario in 2011, 185 businesses have partnered with 46 cultural organizations – 128 of these businesses were first-time sponsors of the arts. A total of $275,000 in matching funds generated over $663,497 in private sector sponsorship and resulted in an influx of more than $938,497 to the cultural economy. artsVest Ontario is delivered with the support of the Government of Ontario, the Ontario Trillium Foundation and Canadian Heritage.

artsVest Saskatchewan Year One Results
Due to artsVest National expansion in Saskatchewan in 2011, 178 businesses have partnered with 51 cultural organizations – 139 of these businesses were first-time sponsors of the arts. A total of $350,000 in matching funds generated over $821,653 in private sector sponsorship and resulted in an influx of more than $1.17 million to the cultural economy. artsVest Saskatchewan is delivered with funding from Canadian Heritage and the Government of Saskatchewan Ministry of Tourism, Parks, Culture and Sport, and with support from SaskCulture Inc.

artsVest Winnipeg Year One Results
Due to artsVest National expansion in Winnipeg in 2011, 57 businesses have partnered with 18 cultural organizations – 25 of these businesses were first-time sponsors of the arts. A total of $98,430 in matching funds generated over $200,250 in private sector sponsorship and resulted in an influx of more than $298,680 to the cultural economy. artsVest Winnipeg is delivered in partnership with the Winnipeg Arts Council (WAC) with funding from Canadian Heritage and the Winnipeg Foundation.

artsVest Calgary Year One Results
Due to artsVest National expansion in Calgary in 2011, 41 businesses have partnered with eight cultural organizations – 28 of these businesses were first-time sponsors of the arts. A total of $117,000 in matching funds generated over $233,189 in private sector sponsorship and resulted in an influx of more than $350,000 to the cultural economy. artsVest™ Calgary is delivered in partnership with Calgary Arts Development and with funding from Canadian Heritage and The City of Calgary through Calgary Arts Development.

Arts and culture organizations were invited to apply for artsVest matching funds by submitting an application that included their sponsorship proposal and a list of businesses they intend to approach for sponsorship. Once approved, a pre-approved amount was reserved for them from the matching funds, which they then had to match in sponsorship from the business community. In selected communities, artsVest offers arts and culture organizations free sponsorship training workshops and year-round support to build capacity within the local cultural sector. By coaching arts and culture organizations on the art of sponsorship, from developing a strategy to creating a sponsorship proposal, artsVest aims to provide the participating organization with the ability to approach their local business community, and successfully generate new revenue streams. The program currently operates in Ontario, Calgary, Saskatchewan, Winnipeg and Vancouver. For more information, visit www.artsVest.com.

Founded in 1974, Business for the Arts aims to strengthen arts and culture in Canada by connecting arts organizations to business patrons and volunteers through our artsScene and boardLink programs; by providing arts organizations with matching incentive funds to stimulate business investment and professional development resources to improve their sustainability through artsVest; by communicating the value of investing in the arts through advocacy and research via our Roundtables and Surveys; and by providing a platform for arts organizations to celebrate their outstanding business partners in the arts through our National Awards Gala and media partnerships.