Results to date:
1,833 participating artsvest organizations have formed 4,878 partnerships with businesses, of which 3,436 are first-time business partnerships and 3,230 are long-term.
These partnerships have generated $21.19M in new private sector investment from $8.06M in matching funds to date, and have resulted in an influx of $29.25M to the cultural sector.
From 2015- now small and mid-sized arts and culture organizations in eight provinces received 12,178 hours of sponsorship training and mentorship through the program.
From building capacity in the cultural sector to creating cross-sectoral partnerships that work to strengthen local cultural assets, artsvest has an incredible impact in every community it enters, from small to large, rural to urban.
artsvest’s Impact Includes:
- Increased capacity in the cultural sector
- Increased private sector support of the arts
- Downtown revitalization and increased foot traffic
- Cross-sectoral partnerships
- Employee engagement
- Creative economy building
- Cultural tourism and economic development
Impact on the Private Sector
artsvest offers the business community an opportunity to double their investment in a cultural organization and their impact on the local community.
In building partnerships between the private and cultural sectors, artsvest helps strengthen and diversify local economies, engage employees and attract and retain talent. Many of the projects artsvest has funded are focused on downtown revitalization and increased foot traffic, and often gain the support of the local Chamber of Commerce and BIA.
“Summit believes in supporting culture in the communities in which we live and work. The long-term benefit in our communities includes; increased opportunities for local education, promoting diversity, providing employment opportunities and supporting local artists.” – Summit Environmental Consultants Inc. in partnership with the Vernon Public Art Gallery
Impact on the Cultural Sector
artsvest works to build capacity in the cultural sector through in depth sponsorship workshops and mentoring sessions that train arts organizations on generating private sector support. Cultural organizations gain an increased confidence to approach the business community, and a better understanding of the unique value they have to offer businesses. In addition, artsvest provides matching incentive grants for sponsorships raised by participating organizations to help spark local business support of arts and heritage. In connecting to the private sector, cultural organizations develop new and diverse revenue streams, creating a more sustainable funding model.
“Thank you, artsVest! The training you offer small organizations is unique and of HUGE value to our sector. Professional Development is hard to come by, so gaining training for something as vital to ongoing operations as sponsorship is as valuable for the individual staff members and volunteers who take part in the program as it is for the investment in long-term health for the organization.” – Orpheus Choir, Toronto
Impact on Local Cultural Planning
artsvest is very closely aligned with Municipal and Provincial Cultural Planning and serves to activate cultural plans by sparking alliances between the public, private and cultural sectors to work together to develop local cultural assets.
“artsvest has proved to be a great way to build innovative new partnerships between businesses and arts organizations,” Former Saskatchewan Ministry of Parks, Culture and Sport Former Minister Kevin Doherty – “The economic and social benefits of these relationships contribute to a vibrant and growing arts, culture and heritage sector, supporting our growing economy and enhancing our enviable quality of life.”