European cultural institutions turn to American donors

Posted on: December 2, 2009

In Friday’s (11/27) Wall Street Journal, Paul Sonne writes, “As European cultural institutions take cues from their American brethren and rely increasingly on private donations, the perks that donors get in return for giving are growing in number and diversity. The Louvre has gone from raising 6% of its operating revenues from philanthropy, sponsorships and space rentals in 2003 to culling 16% of its operating budget from such private funds this year. … Iconic cultural institutions like the Tate, the Mariinsky and the Louvre all have set up American or international ‘friends groups’ in the last decade, in part to cash in on donations coming from the U.S. and to allow American supporters to take advantage of domestic tax write-offs. … The increased importance of private funding has opened up more opportunities for donors. Most cultural organizations offer trips, special exhibitions, tailored lunches and tours, as well as galas or concerts to individuals who open their hearts—and their wallets—to support projects. That also means opportunities for networking.”

Posted December 2, 2009