|Examination of the Venture Philanthropy Model within the Arts|
Uploaded by: Arts Administration Program
Pockets: Arts Administration, Arts Administration Program Theses (Permission Required), Arts Administration: General, Development, Philanthropy
Tags: Arts Funding, nonprofits, Strategic Funding, Venture Capital, Venture Philanthropy
Description/Abstract: his thesis will examine the venture philanthropy model within the arts sector. In an increasingly complex and competitive environment, some funders now look to the for-profit world to generate new approaches to support the arts. Venture philanthropy is one such novel approach. Such high-engagement relationship between investor-investee funding focuses primarily on capacity building rather than the short-term fiscal benefits of the traditional grants. How has venture philanthropy evolved? What are the challenges and opportunities associated with this model? How are success and sustainability assessed? The four organizations chosen for this thesis are the Kresge Foundation, the Denver Foundation, SVP San Diego, and MacArthur Foundation. They were chosen for my study base on the amount of work they have done with arts nonprofits, the strategic funding model utilize, and how they fit within the spectrum of engagement. My findings from my interviews with program officers at the four aforementioned organizations differed than the information found in journals and articles. This was, in part, due to my research was done solely on venture philanthropy firms while my interviewees were in strategic funding firms.