Universitat Internacional de Catalunya

Funding for Culture

Funding for Culture
3
6724
1
Second term
OB
Main language of instruction: Spanish

Other languages of instruction: English

Teaching staff


Ms. FITZGERALD, John - jfitzgerald@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:

  1. 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.
  2. 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 processes.

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.

  • CB7 - Students should be able to apply their knowledge and ability to solve problems in new or little-known environments, within broader (or multidisciplinary) contexts related to their area of study.
  • CE5 - To diagnose and resolve economic and financial imbalances in a financial or cultural institution and create and plan funding plans for cultural projects and sponsor programmes.
  • CG3 - To search for and/or administer economic resources within the framework of an institution or company, or a cultural programme, project or service.
  • CT1 - To design, direct, produce and assess cultural projects, programmes, strategies, policies or actions that involve a number of different numerous professional profiles, agents and institutions.

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 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 and 4. Classes 5 and 6 will be dedicated to training in Impact evaluation. The classes 7 and 8 will be dedicated to, inspired by case studies, to talk about communication and patronage of the cultural projects. Finally, the financial and impact plans will be presented in class 9.

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 

Session

Date

Topic

1

10/01/2022

Overview of the program; Introduction to funding for culture

2

12/01/2022

Financial planning, accounting and budgeting; sources of funding

3

17/01/2022

Culture for recovery: funding, policy, and place.

Visiting: Ramon Marrades

4

24/01/2022

Financial planning and sources of funding

Visiting: Estephania Bonnet

5

26/01/2022

Economic and social impact evaluation

6

31/01/2022

Cost-benefit analysis (theory and practice)

Visiting: Pablo Tucat

7

07/02/2022

Communication

Visiting: Sergi Capell

8

09/02/2022

Patronage

Visiting: Pablo Tucat

9

14/02/2022

Final presentations of financial plans

10

 

Introduction +

Fundraising plans – content & construction

11

 

Writing a fundraising plan and strategy +

budgeting

12

 

Public funding for arts & culture +

Foundations & sponsorship

13

 

International funding possibilities (Regional

agencies e.g., EU, Norwegian Fund etc)

14

 

Crowdfunding, donations + earned income

15

 

Start-ups, business angels & legacy funding

16

 

Sustainable organisations, writing grant

applications + ethical questions

17

 

Case studies

18

 

Final presentations of fundraising plan &

strategy + recap, evaluation, links and close
 

  



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


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