Business for the Arts (artsVest™)
artsVest™ is a national sponsorship training and matching incentive program created by Business for the Arts and funded in Toronto by the Toronto Arts Council and Canadian Heritage.
artsVest™ is designed to stimulate innovative business sponsorship and corporate engagement in arts and heritage. The program helps build healthy, prosperous and creative communities across Canada by training small and mid-sized arts and heritage organizations with an annual budget of less than $1 million how to forge successful, long-term partnerships with the private sector. In addition, artsVest provides matching incentive grants for new sponsorships raised by participating organizations to spark local business support of arts and heritage.
In artsVest Toronto’s second funding cycle (2015-2017), 179 arts organizations created 267 partnerships with local businesses, of which 232 will continue long-term and 85% were first time partnerships for the organizations. Participating organizations more than doubled their goal of securing $660,000 in sponsorship over the 2 years, instead raising $1.74M in sponsorship funds from the local business community. Matching funds of $660,000 provided by Toronto Arts Council and Canadian Heritage together with additional sponsorship funds created an investment impact of $2.4M to the Toronto economy.
In the first two years of the program in Toronto (2013 to 2015), 115 arts and cultural organizations created a total of 254 partnerships with businesses city-wide, of which 239 were long-term and 175 were first-time partnerships for the organizations. Matching funds of $660,000 generated over $2 million in private sector sponsorship and resulted in an investment of over $2.67 million to the cultural economy.
artsVest is a Business for the Arts program. Organizations interested in participating in artsVest must apply through Business for the Arts directly.
For more information on artsVest: http://www.artsvest.com/artsvest-toronto/
artsVest™ video courtesy of Business for the Arts
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