Universitat Internacional de Catalunya
Funding for Culture
Other languages of instruction: English
If the student is enrolled for the English track then classes for that subject will be taught in the same language.
Teaching staff
Apart from class hours, enquiries can be addressed by email to melrazzaz@uic.es
Introduction
This module on ‘Funding for Culture’ is formed by two parts: Financing and Fundraising. The aim here is to give students a comprehensive introduction on: i. Financing (how to produce a financial plan, understand the context of sources of funding available and improve the ability in decision-making on finance issues in a cultural/artistic project) and ii. Fundraising: how to plan campaigns, research funders and attract funding for arts and culture enterprises.
Funding the arts falls into two main categories, earned income (from ticket sales/admissions or subsidiary activities) and fundraising. The module covers principles of both: earned income, such as fixed, variable and sunk costs, and pricing, and then turns to fundraising, covering grants, sponsorship and philanthropy, as well as donor development and a brief consideration of major gifts. The module considers approaches to government agencies, corporations, and individuals as well as digital approaches including crowdfunding.
Pre-course requirements
Those of the Master's Degree.
Objectives
Students will be encouraged to engage with the theory and practice of financing and fundraising encountered in the module to acquire enough knowledge and tools to be able to apply what they have learnt in their current project and future work, as cultural managers.
Competences/Learning outcomes of the degree programme
Basic competencies
- To know how to apply the knowledge acquired in sophisticated, multidisciplinary contexts relating to the field of study;
- To deal with complexity in the company and the market, as well as uncertainty in decision-making process.
General competencies
- To properly manage economic resources in the cultural and creative field;
- To attract funds by tailoring campaigns to different audiences.
Cross-disciplinary competencies
- To build strong donor relationships through fundraising campaigns.
Learning outcomes of the subject
- Prepare and interpret different financial statements;
- Apply ratio analysis tools in order to evaluate different dimensions of a company’s performance;
- Take informed investment decisions guided by an understanding of the time-value of money and the risk-return trade-off;
- Use capital and debt financing while mitigating for the risks associated with them;
- Design, direct and evaluate sponsorship plans for cultural projects and/or companies;
- Untap the full potential of self-generated income and public financing.
Syllabus
The module will be a combination of theory and practice and will be student-centred. At the first session, projects that the students are currently working on or intend to work on will be identified as case studies both for both parts of this entire module. This will be tied into working groups that the students have already agreed on for their projects.
In the first part (Financing): The working groups will be set the task of compiling a financial plan for their projects, including proposed evaluation of impact, using the tools and skills acquired in this module. The bigger economic scenario and the position of arts and culture on it will be presented in the classes 1 and 2. The basics knowledge in the financial planning and accountability will be provided in classes 3, 4 and 5. Classes 6 and 7 will be dedicated to training in Impact evaluation. The classes 10, 11 and 12 will be dedicated to, inspired by case studies, to each group produce the financial and impact plan which on will be presented in class 13.
In the second part (Fundraising): The working groups will be set the task of compiling a fundraising plan and strategy for their projects, using the knowledge and information they receive. How to draft a fundraising plan and strategy will be introduced in classes 8 and 9, which means working groups can immediately begin building their plans for presentation in class 18. Alongside this planning work, different sources of funding will be introduced and explained, as part of classes 14, 15, 16 and 17. Finally, the completed plan and strategy will be presented by all working groups in class 18.
Course Schedule|
Classes |
|
Topic |
|
Method |
Professor |
|
|
1 |
11/01/2021 16:30 – 18:30
|
Overview of the program, assessments and strategies + COVID challenges in financing in arts |
|
Expositive-participative |
LV |
|
|
2 |
13/01/2021 16:30 – 18:30 |
Context and figures of current financial support measures in response to the pandemic in selected countries. |
|
Work in group - Jigsaw |
LV |
|
|
3 |
18/01/2021 16:30 – 18:30 |
Introduction + Fundraising plans – content & construction |
|
Working groups & projects identified |
SF |
|
|
4 |
20/01/2021 16:30 – 18:30 |
Writing a fundraising plan + strategy + budgeting |
|
Working groups & projects identified |
SF |
|
|
5 |
25/01/2021 16:30 – 18:30 |
General issues + Context + Financial Case Studies |
|
Expositive - participative |
LV |
|
|
6 |
25/01/2021 16:30 – 18:30 |
Economic, financial and multidimensional Impact evaluation – I – methods and examples |
|
Work in groups - Jigsaw
|
LV |
|
|
7 |
01/02/2021 16:30 – 18:30 |
Strategic choices for financing and fundraising |
|
Work in groups - Jigsaw
|
LV |
|
|
8 |
08/02/2021 16:30-18:30 |
Financial statements (Balance Sheet, Income Statement and Cash Flow Statement). |
|
Working groups & projects identified |
ME |
|
|
9 |
10/02/2021 16:30-18:30 |
Financial statements (Balance Sheet, Income Statement and Cash Flow Statement |
|
Expositive - participative |
ME |
|
|
10 |
15/02/2021 16:30-18:30 |
Resuming the basics of Financial Planning, Accounting and Budgeting |
|
Expositive - participative |
LV |
|
|
11 |
17/02/2021 16:30-18:30 |
Financial and impact plan work in groups |
|
Workshop in groups |
LV |
|
|
12 |
22/02/2021 16:30-18:30 |
Financial and impact plan work in groups |
|
Workshop in groups |
LV |
|
|
13 |
24/02/2021 16:30-18:30 |
Financial and impact plan short presentations |
|
Pitching |
LV |
|
|
14 |
01/03/2021 16:30-18:30 |
Public funding for arts & culture + EU funding for arts and culture |
|
|
SF |
|
|
15 |
03/03/2021 16:30-18:30 |
Foundations & sponsorship Crowdfunding, donations, events |
|
|
SF |
|
|
16 |
08/03/2021 16:30-18:30 |
Start-ups, earned income, business angels & legacy funding |
|
|
SF |
|
|
17 |
10/03/2021 18:30-20:30 |
Making grant applications, ethical questions Sustainable organisations |
|
|
SF |
|
|
18 |
15/03/2021 16:30-20:30 |
Final presentations of fundraising strategic plans + recap, evaluation, links and close |
|
|
SF |
|
Teaching and learning activities
In person
The course will apply two methodologies:
1. Lectures: Theoretical concepts will be presented and discussed.
2. Practical exercises: students will have to solve practical exercises (usually related to the case studies presented during the lectures).
Evaluation systems and criteria
In person
Assessments
This module will be marked on a continual assessment. There will be no exams. The marking will be as follows:
|
Percentage |
Subject |
|
20% |
Attendance & Participation |
|
40% |
Financial plan (research, preparation, content, presentation) |
|
40% |
Fundraising strategy (research, preparation, content, presentation) |
Bibliography and resources
References:
Crossik, G., & Kaszynska, P. (2016). Understanding the value of arts & culture: The AHRC Cultural Value Project. Arts and humanities research council.
Hewison, Robert; Holden, John (2011). The cultural leadership handbook: how to run a creative organization. Surrey: Gower Publishing.
Kaiser, M.M. (2008) The art of the turnaround: creating and maintaining healthy arts organizations, Hanover: University Press of New England.
Oakley, Kate; Andersen, Lisa (2008). Making Meaning, Making Money: directions for the arts and cultural industries in The Creative Age. Cambridge: Cambridge Scholars Publishing.
Tempel, Eugene R; Seiler, Timothy L ; Aldrich, Eva E. (2011). Achieving Excellence in Fundraising. San Francisco: Josey-bass.
Varbanova, L. (2013) Strategic Management in the Arts, New York: Routledge.
Valiati, L. Relative Values. www.culturalvalue.org
Teaching and learning material
- 01. Classified Balance Sheet
- 02.Ratio Analysis
- 03.EquityFinancing
- 04.DebtFinancing
- 05.FundingSystems
- 06.BusinessSupportOrganizations
- 07.InterestRates
- 08.The Funding Landscape
- 11.Sponsorship
- 12.Crowdfunding
- 13. Public Finance
- 14.Business Angels
- 15.Impact of Funding Decisions
- 16. Funding Tools in Practice
- 17.Fundraising Plan
- 18.Budgeting
- ANGL
- Casa Study 07 - Financing of Chinese Cultural Enterprises
- Case Study 01 - Louvre's Terms of Use
- Case Study 02 - The Louvre in Abu Dhabi
- Case Study 05 - Value of Global Art Market
- Case Study 06 - China's Cultural Programme
- Case Study 08 - Risk Mitigation for Cultural Loans in Spain
- Case Study 09 - Facebook on the Brink of Power Shift
- Case Study 11 - Partnering with UNESCO
- Case Study 13 - Financing Cultural Initiatives
- Case Study 14 - Pros and Cons of Angel Investors
- Case Study 16 - Louvre Budget Blues
- Case Study Alibaba
- Case Study Facebook WhatsApp
- Case Study Netflix
- CAST-