Posts Tagged ‘debt’

Stack of US Bills, CC by "401(K) 2012" on Flickr

Some friends of mine were having an interesting Facebook discussion around Ellen Cushing’s recent article in the East Bay Express, about crowdfunding, philanthropy, and what the young and well-to-do of Silicon Valley mean for the future of the arts. The issue was whether or not crowdfunding was replacing traditional arts philanthropy and what this means for the long-term viability of arts organizations. Kickstarter campaigns are great for early-stage artists, but they couldn’t reasonably sustain something like the San Francisco Symphony, or even smaller chamber organizations like SFCMP or SFSound. So if young people with a lot of money are eschewing the traditional philanthropic route in favor of crowdfunding, what does that mean for arts organizations?

Nothing. Crowdfunding is a new category of fundraising, and it draws a different set of people for reasons unrelated to traditional philanthropy—each addresses a separate “need” for the donor that the other doesn’t. The reduction in philanthropic support for the arts right now is not tied to crowdfunding, but rather to larger shifts in cultural priorities. (more…)