FUNDING FOR ART AND CULTURE

The "Funding for Arts and Culture" course provides students with an in-depth understanding of the sources of funding available to cultural and arts organizations, as well as the challenges and opportunities associated with fundraising in this area.

The cultural and arts sector often depends heavily on external funding to support its activities, whether it is state or private funding. However, obtaining these funds can be complex and competitive. The "Funding for art and culture" course helps students understand the funding mechanisms, the various channels for obtaining them and the strategies to become competitive in the process of applying for funds.

In addition, the course can also provide students with an understanding of the trends and dynamics of the cultural and arts sector, which are important for making informed fundraising decisions.

In general, attending the "Funding for art and culture" course can provide students with the skills and knowledge necessary to effectively support cultural and artistic organizations in fundraising, and thus contribute to their long-term success.

Knowledge of funding sources: Students learn to identify and evaluate the different funding sources available to cultural and arts organisations, such as state funding, European funds, private funds and patrons.

Understanding Industry Dynamics: Students gain an understanding of cultural and arts industry trends and dynamics, including the economic and political context, which is important for making informed fundraising decisions.

Planning and budgeting skills: Students learn to plan and budget cultural and arts organizations effectively, taking into account available funding sources.

Communication Skills: Students learn to communicate effectively with potential funders, including patrons, foundations and government agencies, to submit funding applications and persuade interested parties to invest in the cultural or arts organization.

Research Skills: Students learn to conduct research on funding, patrons, industry trends, and funding programs.

Basic knowledge of the art market and its dynamics
Basic knowledge of business economics and budgeting

WEEK 1
1) Fundamentals of corporate finance:
- The time value of money: risk, return, interest rates;
- Investment valuation and capital budgeting;
- The estimation of the cost of capital and the optimal debt model.

2) The financial logic applied to the management of cultural heritage:
- Economic-financial budget and financial flows of the projects;
- Economic-financial sustainability of investments and remuneration for the investor;
- Expected returns for stakeholders in the art market.

WEEK 2
1) The main players in the art and culture market:
- The Italian State
- Non-profit organizations
- Investment funds "art funds"
- Private companies operating in the cultural heritage sector
- Private collectors

2) The reference legislation
- Fiscal aspects of investments in art and culture;
- European legislation: the SFDR (Sustainable Finance Disclosure Regulation)
- Financial statements of a non-profit organization: schemes and representation

WEEK 3
1) The public subsidy instruments available to the sector:
- The Art bonus (Law n. 106/14)
- Public contributions and subsidized finance

2) The private funding instruments available to the sector:
- Crowfunding and its remuneration
- Donations from private individuals
- Social bonds




WEEK 4
1) The phases of the recovery and income generation of an artistic asset.
2) The economic-financial budget of an artistic project.

WEEK 5
Case studies, tutorials and examples:
- The restoration of Villa dei Vescovi in ​​Torreglia (PD) by the FAI
- Art funds and social bonds
- Case study of a fundraising company
- The budget of Italia Nostra Onlus
- Historical analysis of the quotations of artists compared

Material provided by the teacher
Reference legislation indicated by the teacher

The verification of learning will take place through a single test, written only, with open-ended questions and multiple choice questions.

Slides projected in the classroom
Handouts
Speech by external speakers experts in Funding

Italian

written