For private $, that is.
If anyone still doubts a recession is immanent, it sure ain't arts orgs. Bloomberg's Patrick Cole tells how companies are adjusting: mainly by asking for those yearly checks early, like now.
After all, competition of philanthropy dollars has always been stiff, and now gets stiffer:
Donations to the arts trail gifts to religious groups and educational and health-care institutions. Arts groups fear the pain will be worse in a recession. According to the latest figures by Giving USA Foundation, a research program of the Giving Institute, religious groups received the most donations in 2006, $96.8 billion, while arts and culture got $12.5 billion.
"The arts have always had a difficult time competing with hospitals and diseases,'' said Jane Robinson, president of the board of the Florida Grand Opera, based in Miami. "Our biggest donors will not make a change. It's the middle-of-the-road donor who has to decide how to cut back.''
Ah the wisdom of the free marketplace. Who needs government subsidy when the invisible hand will always put resources where they belong.
$96. 8 billion compared to $12.5??? And here I was thinking the selling of indulgences went out in the 16th century.