Every year the Indiana University Lilly Family School of Philanthropy publishes their annual Giving USA analysis on philanthropy. According to a recent ARTSblog post by Americans for the Arts’ Vice President of Research and Policy, Randy Cohen, their latest report shows that 2014 was a good year for the arts and corporate giving.
With the exception of International Affairs, giving in 2014 rose across all sectors, with Arts, Culture, and the Humanities seeing the highest percentage growth. In 2014, private sector giving to the arts, culture, and humanities (by individuals, foundations, and corporations) totaled $17.23 billion, representing a 9.2 percent increase from 2013. Corporate giving grew the most in 2014, increasing 13.7 percent for a total of $17.77 billion.
Corporate contributions are directly related to profits and the economy, but profits and the economy can also be positively impacted by the arts! In 2012, the production of arts and cultural goods added more than $698 billion to the U.S. economy. This production amounted to 4.32 percent of GDP, ahead of the $586-billion construction industry and the $461-billion transportation and warehousing industry, according to a recent federal report by the National Endowment for the Arts.
Through The pARTnership Movement, Americans for the Arts helps businesses understand the powerful affect the arts can have on the economy and community vitality. The arts enhance community development, create jobs, spur urban renewal, attract new businesses, draw tourism dollars, and create an environment that attracts skilled and educated workers.