Funding for Culture
Main language of instruction: English
Other languages of instruction: Spanish
Head instructor
Dr. Miquel BASTONS - bastons@uic.es
MsU Mohammed Hassan ELRAZZAZ - melrazzaz@uic.es
Office hours
Apart from class hours, enquiries can be addressed by email to melrazzaz@uic.es
This course introduces the students to the basics of finance and equips them with practical financial analytical tools that they can apply to cultural projects, events or companies.
Pre-course requirements
A basic understanding of the cultural and creative industries and the peculiarity of cultural products.
Those of the Master's Degree.
- To understand the pros and cons of the basic financial statements;
- To understand the significance of different financial rations;
- To understand the potential and diversity of fundraising tools available for them;
- To understand the pros and cons of different financial models;
- To understand the opportunity costs of their investment decisions.
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.
- 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.
First Block: Financial Instruments
- Balance Sheet
Breakdown of Assets, Liabilities and Equity; Depreciation
- Income Statement
Breakdown of Revenues and Expenses; making profit and absorbing loss
- Cash Flow
Cash flow cycle and working capital
- Ratio Analysis
Liquidity, Debt Management, Asset Management and Profitability
- Investment Analysis
Time-Value of Money, Cost-Benefit Analysis
Second Block: Financing Systems
- Equity Financing
Using owners’ own funds / equity
- Debt Financing
Using short-term and long-term debt
- Comparative Analysis
Pros and Cons of equity and debt financing
Third Block: Fundraising
- Sponsorship
Developing a sponsorship plan
- Public Finance
Grants and Subsidies
- Crowdfunding
Grassroots funding and online campaigns
- Business Angles
Angels and other innovative ways of raising funds
- Fundraising Plan
Developing a comprehensive and balances fundraising plan
- Budgeting
Building a budget
Chapter MATERIAL GRUPO ESPAÑOL
Material
Ejemplo Cash Flow ejemploflujocajavantir.xls
Ejercicios Balance ejerciciosbalance.xlsx
Grupo Español Presupuesto tesorería presupuestotesoreriaproducing.xlsx
Guía para la elaboración del plan de financiación de un proyecto guiontrabajofinalfinanciacion.doc
PRODUCING producing.notacultura.xls
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).
Group Assignments: 80%
Attendance and Class Participation: 20%
Operational Finance
Public Funding
Private Funding