Details emerge of a new Government-backed initiative to boost philanthropy
A three-tier model for distributing funding from an £80m match-funding scheme to encourage philanthropy to the arts is being proposed for discussion by arts leaders at a series of round table meetings across England. For arts organisations with little fundraising experience or capacity a ‘£1 for £1’ scheme would offer organisations awards of between £1,000 and £10,000; a second tier, aimed at organisations looking for more money, and with more expertise to secure matching donations, would offer awards from £10,000 to £50,000, with the match providing £1 for every £2 raised. At its highest level, tier 3, the scheme would enable large organisations to make a step-change in their established fundraising strategy. A few organisations each year would be offered a large sum to match – up to £1m – at £1 for every £3 raised. Some of these larger awards would be made to organisations wanting to develop endowments. Arts Council England's Chief Executive, Alan Davey, described the proposals as “pragmatic, yet enticing”, saying that they must “attract new money, not match existing gifts”. He said of the scheme: “…I want it to be a first step in a raft of practical measures that equip the arts sector to form lasting, and impactful relationships with philanthropists and private givers. This match funding scheme is only the beginning.” Up to £50m million of Lottery income and £30m million of DCMS funds are set to be invested in the philanthropy initiative between 2011/12 and 2015/16. Around £5m will be set aside for the launch of a pilot match funding scheme in the first year.