Business for the Arts celebrates impact of artsVest™ program in Nova Scotia

2013-2014 program wraps in province with economic impact of nearly $340,000

(TORONTO, ON – July 30, 2014) Business for the Arts, Canada’s national charitable association of business members who support the arts, announced today the successful completion of the 2013-2014 artsVest™ program in Nova Scotia.

artsVest is a matching incentive grants and sponsorship training program of Business for the Arts funded in the province by Canadian Heritage and Arts Nova Scotia. The program offers capacity-building sponsorship training workshops and resources to small and medium-sized arts and culture organizations to help them secure business investment. The results province-wide show:

  • 20 arts organizations secured sponsorship and matching funds
  • 62 partnerships were made with 60 business sponsors
  • 37 of 60 businesses were first time sponsors of the arts
  • arts organizations believe that 60 of 62 partnerships will be long term
  • $68,000 in matching funds were distributed
  • $271,923.37 in sponsorship funds were raised by 20 arts organizations

Total economic impact of artsVest Nova Scotia Year 2013-2014: $339,923.37

“We are delighted at the first-year success of our flagship program in Nova Scotia,” said Nichole Anderson, President and CEO of Business for the Arts. “By participating in the program, arts and culture organizations acquire the confidence and tools to approach local businesses for sponsorships, creating new revenue streams and encouraging a flourishing creative economy.”

“We are very pleased with the results from the first year of artsVest,” said Christopher Shore, Director of Arts Nova Scotia. “We look forward to continuing to help the arts and culture community find ways to engage with the business community through innovative programs such as this.”

The 2014-2015 program recently launched with information sessions and sponsorship workshops in Yarmouth, Halifax, Antigonish and Sydney, providing a total of $104,000 in matching incentive grants.

Since the introduction of the artsVest program in Ontario in 2002 to 2013, 1,571 businesses have partnered with 465 cultural organizations through artsVest – 968 of these businesses were first-time  sponsors of the arts. A total of $2.92 million in matching funds generating over $6 million in private sector sponsorship and resulted in an influx of more than $9 million to the cultural economy. Visit www.artsvest.com for information about the program.

About Business for the Arts
Founded in 1974, Business for the Arts is Canada’s only national charitable organization of business members who support the arts. Our vision is to inspire Canada’s business community to partner with the arts to ensure a thriving cultural sector. We connect, educate and invest to bridge the gap between business and the arts. For more information, visit www.businessforthearts.org.