Business for the Arts’ artsVest program creates impact of $4.45M on Canada’s cultural economy

FOR IMMEDIATE RELEASE

Business for the Arts announces impressive results of their artsVest program for 2016

(Toronto, Ontario – May 17, 2017) Business for the Arts – Canada’s only national charitable organization with a mandate to strengthen the arts and culture sectors nationally by building partnerships between the private and cultural sectors – has officially wrapped up its artsVest program for 2016 in British Columbia, Nova Scotia, Ontario, Saskatchewan and Toronto. With funding support from the Government of Canada, Toronto Arts Council, Ministry of Tourism, Culture and Sport, Ontario Trillium Foundation, B.C. Ministry of Culture (BC Arts Council), City of Kelowna, Saskatchewan Ministry of Parks, Culture and Sport, and Arts Nova Scotia, $1.16M in matching funds generated $3.29M in sponsorship dollars, for a total impact of $4.45M towards the arts in Canada – meaning every $1.00 invested saw a return of $2.84; more than doubling the impact of the artsVest program in Canada’s arts communities.

artsVest is Business for the Arts’ national flagship program that works directly with small to mid-size arts organizations looking to procure sponsorships and build sustainable partnerships with the business community. The program consists of in-depth training in corporate sponsorship – from one-on-one, group and peer-to-peer workshops, to online educational tools and mentorship pairing. 331 arts organizations participated in the ten-month training program – 255 of these organizations created 663 partnerships, of which 584 considered long-term and 517 of which were first-time sponsors for the organizations. The participants successful in securing sponsorships were allocated matching funds at the end of the program, up to a predetermined dollar amount.

“Matching incentives are a powerful tool to strengthen our arts and culture sector and make it more accessible to all Canadians. That is why we are proud to support Business for the Arts and its artsVest program. These investments help create good jobs for the middle class, strengthen our economy and ensure that Canada’s unique perspective is shared with the world.” —The Honourable Mélanie Joly, Minister of Canadian Heritage

« Les mesures incitatives correspondantes sont un outil puissant pour renforcer notre secteur artistique et culturel, et le rendre plus accessible à tous les Canadiens. C’est pourquoi nous sommes fiers d’appuyer Les affaires pour les arts et son programme artsVest. Ces investissements contribuent à créer de bons emplois pour la classe moyenne, à renforcer notre économie et à veiller au partage de la perspective unique du Canada avec le monde entier. » —L’honorable Mélanie Joly, ministre du Patrimoine canadien

“We are absolutely thrilled with the results of our 2016 artsVest cycle,” says Aida Aydinyan, Vice President of Business for the Arts. “The number of cross-sectoral partnerships this program creates between the arts and business continues to grow year over year. Communities are seeing incredible merit in this quintessential leveraging program – in fact, we have just expanded the program to both PEI and New Brunswick and look forward to continuing our national growth.”

About artsVest
artsVest operates in Alberta, Saskatchewan, Ontario, Nova Scotia, New Brunswick, Prince Edward Island and Toronto. Since 2002, 1,112 participating artsVest organizations have formed 3,720 partnerships with businesses, of which 2,550 were first-time business partnerships and 2,309 are long-term. These partnerships have generated $16.19M in new private sector investment from $6.37M in matching funds to date, and has resulted in an influx of $22.6M to the cultural sector.

In 2016, artsVest facilitated over 650 training and mentorship opportunities for artsVest participants, resulting in the delivery of 749 hours of live session programming. The program proudly boasts over 40 expert mentors across Canada, all seasoned professionals from the non-profit or corporate sector with experience in corporate sponsorship and board governance.

Please visit www.businessforthearts.org for more information.

For more information, please contact:
Claire Hefferon
artsVest National Program Director
416-869-3016 x 225
c_hefferon@businessforthearts.org