Subject

Funding for Culture

  • code 04007
  • course 1
  • term Term 2
  • type OB
  • credits 3

Main language of instruction: Spanish

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

Head instructor

Dr. Miquel BASTONS - bastons@uic.es
Dr. Leandro VALIATI - lvaliati@uic.es

Office hours

Apart from class hours, enquiries can be addressed by email to melrazzaz@uic.es

Introduction

In the event that the health authorities announce a new period of confinement due to the evolution of the health crisis caused by COVID-19, the teaching staff will promptly communicate how this may effect the teaching methodologies and activities as well as the assessment.

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

Expectations & Goals

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

 

 

 


Chapter  MATERIAL GRUPO ESPAÑOL
      Material
            Caso Producing producing.cascultura.doc 
            Guia para la elaboración del plan de financiación guiontrabajofinalfinanciacion.doc 

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

      Material
            01. Classified Balance Sheet 01.classifiedbalancesheet.ppt 
            02.Ratio Analysis 02.ratioanalysisi.ppt 
            03.EquityFinancing 3.equityfinancing.ppt 
            04.DebtFinancing 4.debtfinancing.ppt 
            05.FundingSystems 5.financingsystems.ppt 
            06.BusinessSupportOrganizations 6.businesssupportorganizations.ppt 
            07.InterestRates 7.interestrates.pptx 
            08.The Funding Landscape thefundinglandscape.pptx 
            11.Sponsorship 11.sposnsorship.ppt 
            12.Crowdfunding 12.crowdfunding.ppt 
            13. Public Finance 13.publicfinance.ppt 
            14.Business Angels 14.businessangels.ppt 
            15.Impact of Funding Decisions 15.impactoffinancialstatements.ppt 
            16. Funding Tools in Practice 16.fundingtoolsinpractice.ppt 
            17.Fundraising Plan fundraisingplan-sherif.ppt 
            18.Budgeting 18.budgeting.ppt 
            ANGL poetic-researchpaperonpublicsupporttoart-casestudy.pdf 
            Casa Study 07 - Financing of Chinese Cultural Enterprises casestudychineseenterprises.pdf 
            Case Study 01 - Louvre's Terms of Use casestudy1-louvremuseumstermsofuse.pdf 
            Case Study 02 - The Louvre in Abu Dhabi casestudy2-thelouvreinabudhabi.pdf 
            Case Study 05 - Value of Global Art Market casestudy5-valueofglobalartmarket.pdf 
            Case Study 06 - China's Cultural Programme casestudy6-chinasculturalprogramme.pdf 
            Case Study 08 - Risk Mitigation for Cultural Loans in Spain casestudy-riskmitigationforculturalloans.pdf 
            Case Study 09 - Facebook on the Brink of Power Shift casestudyfacebookonthebrinkofpowershift.pdf 
            Case Study 11 - Partnering with UNESCO casestudy11-partneringwithunesco.pdf 
            Case Study 13 - Financing Cultural Initiatives financingculturalinitiatives.pdf 
            Case Study 14 - Pros and Cons of Angel Investors casestudy14-prosandconsofbusinessangels.pdf 
            Case Study 16 - Louvre Budget Blues casestudy16-louvrebudgetblues.pdf 
            Case Study Alibaba  case-studyalibaba.pdf 
            Case Study Facebook WhatsApp case-studyfacebookandwhatsapp.pdf 
            Case Study Netflix  case-studynetflix.pdf 
            CAST- financamentdelsmuseuspublics_casmacba_v2.pdf 
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