News – Financing the future

The debate about future funding models for the arts has taken a further step forward with the launch of two seminal papers exploring new ways of financing the sector and the changes needed to bring about a new funding ecology. The Art of Living, by John Knell, and New and Alternative Financial Instruments by Margaret Bolton and David Carrington, were presented at The Intelligent Funding Symposium, the latest in a series of events run by Mission, Models Money (MMM).
MMM has, since 2003, been running an extensive action research programme to address the challenges of developing mission-led, financially and organisationally sustainable arts and cultural organisations. The programme ends in May with two final publications. An overview report will pull together material generated by the programme into a summary of key findings and recommendations. The second document, An Invitation to an Alternative Future will see the MMM team put forward their sense of the mindsets and competencies that arts practitioners will need in order to address the key issues raised in the MMM project. In partnership with ArtsProfessional, MMM will also be running a short online consultation to encourage a response from the arts sector to the recommendations that have emerged from the action research programme. The papers, reports and outcomes of the MMM project so far can be found at http://www.missionmodelsmoney.org.uk

Does your organisation have the skills to employ a new approach to financial management, to maintain income as public funding decreases?
Vote online at http://www.artsprofessional.co.uk