Arts Entity Economic Sustainability - Essay Example

Arts Entity Economic Sustainability Students Name: Course: Instructor: Date: Arts Entity Economic Sustainability An art is a paramount identity in the world today. It gives people authenticity hence making it an instrumental tool in the human race. Individuals and the governments have embarked on programs that will revolutionize the arts industry through financing and guidance. In Australia, the artists have fallen on good hands of Australian Council that a government body is seeking to provide finances and guidance in the industry (Altman, 2003, p.63). The main goal of the council is to champion as well as investing in the diversity of Australia arts. The Council provides national leadership seeking to provide support, building the Australian art, and providing excellence in the end. The council funding and guidance have made it possible for Australian art and artists to have an international engagement. Sources of funds for Australian artists (music and art) Sutton(2015,p.96), posits that Australian council ultimate goal is to provide a fulfilling purpose through supporting the Australian arts and artists hence creating excellent art accessed across the globe. The council achieves the objective through providing grants to support arts practice as well as organizational arts. Secondly, the council delivers various targeted programs in an attempt to raise the profile hence building the capacity of the Australian artists and creating audience and market for the arts at local and national level. Thirdly, the council has created strategic analysis and research in an attempt to build the evidence base for the arts. Finally, the council acts as an advertisement agent where it helps the Australian arts to have better and fulfilled market at local and national level. Therefore, Australian Council has been an important tool in facilitating effectiveness in the arts industry (Altman, 2003, p.63). Since the inception of Australia Council in 2013, the council has embarked on significant reforms that will ensure that the arts industry works for the best of the artist. On August 18th, 2014, the council formulated a strategic plan that will ensure that financing and grants coming in the council are under good and effective utilization. The five –year strategic plan sought to ensure it has fulfilled the ambitious vision of Australian arts industry. The corporate plan will facilitate implementation of the strategic plan through approval by the Minister of Arts (Bramwell & Lane, 2000, p.44). The 2013 Australian Council has managed to update the various council functions and powers in an attempt to provide appropriate governance, model. The approach has enabled the council to come up with advanced peer assessment structures implemented in 2014 and continue all the way to 2016. The new restructuring has enabled engagement of peers in the formation of panels that will specifically access each grant hence providing greater and fulfilled diversity. Currently, the council has 650 peers drawn to form assessment panels (Tilbury, 2004, p.103). The pool having approval from the council board has artists, professionals and industry experts from various states in Australia who act as peers. After a recommendation from the panel gets through, it reaches the council management and the board for the purpose of the final decision. Later on, the council informs the applicants through publishing successful applicants and peers on the official website. In 2014, the board managed to appoint the chairperson of art practice as well as three strategy panels in an attempt to provide valid strategic advice (Buultjens & Fuller 2007, p.56). New grant models for the council started in January 2015, and it is more flexible and streamlined to ensure diverse and range of arts and artists in the organization. New grants model has emerged in line with various recommendations of 2012 review of the Australian Council. The approach seeks to ensure that provisions are better and fulfilled for the greater good of the sector (Walsh & Douglas, 2011, p.400). Additionally, 2015-2016 budgets, the government have redirected approximately $110 million dollars over a period of four years. The redirection moves from the council to the arts ministry and the attorney general’s department. The funding establishes a national program to provide excellence in arts and to transfer the visions of Australia and associated festivals (Warburton, 200, p.50). The new arrangement will make it possible for delivery of various government priorities such as leveraging the private sector as well as supporting endowments for the arts organization. In the same breath, it will be possible for artists to provide high-quality arts as well as cultural experiences for the Australian audience. Moreover, the 2015-2016 budgets have provided efficiencies for the Australian Council totaling 7.3 million over a period of four years. Reducing the funds to Art Start realizes the ultimate of the council making it possible to realize the organizational vision (Dalle Nogare & Bertacchini, 2015, p.17). Dunbar-Hall & Gibson ( 2004,p.85), Posits that Australia arts business forms mixed income models that contribute to robust art economy as well as arts practitioners who formulate various methods and strategies for raising outside governmental support. The government art budget varies from one financial year to other making it necessary to come up with other methods that will complement that source (Yigitcanlar & Velibeyoglu, 2008, p.200). Governmental funding depends on revenue and when revenue does not meet the expenditures, it end up cutting capital allocations to various ministries and the most affected is the arts ministry. For instance, in 2012/2013, there was a serious defunding of the international Dan’s theatre in Netherlands and the same thing happened in Queensland Premier Literary Award making necessary for the organizations to come up with better and advanced funding. The above are just a few examples amongst multitudes of cases explaining why organizations should seek subsequent sources of financing (Dunphy, 2009, p.67). According to Dyson & Underwood (2006, p.70), financier refers to an entity that supports and commissions individuals through support or monetary investments. Under normal circumstances, they are not necessarily commissioners but they contribute to the process of commissioning of funds. The financiers in Australia include the individuals, businesses or the Australian discussed above. Besides the local art club and state, they might support the entities with an aim of making the artists better and increasing the artistic abilities in the state. Some individuals manage to set up private organizations and ancillary funds to facilitate the philanthropic funds. There are various funds facilitated through Perpetual Trustees that might become a bequest in the end. In the same breath, the arts and music industry in Australia get support from business trusts and foundations. In return, they must market this business to increase their credibility and cohesion continues with time. These deals are anti-360 deals, and Martin Franscogna discussed them in detail during the MIDEM conference in 2013.Many artists and especially musicians have manage to market their products through the platform making the most profitable and ideal in the world today. The business will only market the best artists leaving out the potential artists, and this poses as a great disadvantage today (Dalle Nogare & Bertacchini, 2015, p.18). Private financing groups are another source of funding in Australia although they are just two in Australia. Cultural Music Fund and Silo Collective are the recently created platforms by patron sin Sydney in an attempt to support the commissioning projects. The Silo Collective Fund is an informal group comprised of friends who agree to support and donate their money to particular music groups and by the end of the day increasing their productivity. The Silo Collective Fund does not have established the business, and they rely on internal negotiations to determine the amount that each will get. The donation is not for profit because the group seeks to create an ideal artistic society that will utilize the artistic ability to alleviate their standards as well as improving the lives of people around them (Garvis & Pendergast, 2010, p.17). The philanthropic approach of Collective Fund has made it possible for many Australia citizens to prefer it to other funds because it provides a lucrative opportunity with minimal interferences. The exercise takes place under Australian String Quartet and later presented by the renowned Musical Viva of Australia. The creative music fund has distinctive approach because ii is not entirely private in the process of commissioning. They have a publicly advertised website, and they ask for a minimum contribution of $1,000 for prospective subscribers. The Cultural Music Fund and Silo Collective must include other nonprofit making company for taxation purposes (Gibson, 2002, p.67). Fundraising events are a major source of funding for Australian music companies. The Australian Orchestra with the larger administration of 34 staff can comfortably raise $300,000 in a single fundraising. The amount is enough to fund several artists making it an ideal source of funds. Also, the Song Company that comprises of six singers can comfortably yield over $30,000 from fundraisers increasing the credibility of fundraising as a source of revenue. Additionally, can organize dinner with auctioning companies where donated items and artistic work generate revenue upon selling them to prospective buyers. Fundraising has been a common occurrence in the world today explaining why it is a concrete source of revenue for artists in Australia (Gilbert, & Lo, 2007, p.167). Challenges facing funding of artists in Australia The motivations of different financiers vary from one to another permitting the different the various orientations. For instance, the Australian Council seeks to ensure that all artistic works (music and art) are accessible by the public. Accessibility increases their popularity, and that translates to increased revenue. On the other hand, Arts NSW (state government funding) is different, and the main goal involves a commitment to build stronger communities through arts. The support of artists seeks to empower artistic work rather than the artist himself. The approach might be erroneous because they forget that the artists are the source of artistic work. All state and the federal government must work towards ensuring that the artist gets the best from his or her artistic work. This will ultimately motivate more artists to join the field increasing the artistic work as well as income (Hede & Rentschler, 2007p.160). Changes in budgetary allocations by the government have made it difficult for the Australian Council to support the artists. Former chairperson of Australia Council asserts that any changes in budgetary allocation are disastrous to the musicians because it translates to the omission of many potential artists. In recent remarks the chairperson asserted that a total of $105 million which is approximately 15 percent of the total council budget must go to the new fund which is identifies as the National Program of Excellence in the Arts (NPEA) whereby the grants are under the decision of the department of Arts. Rodney Hall asserted that Australia Council would lose the discretionary powers to make valid and informed decisions if the situation would continue happening. According to the artist’s point of view, the changes are disastrous, and they will alter the general operation of the council. Assistance and nurturing is the original idea behind formulation of the council and reducing budgetary allocation and channeling other funds to ministry of arts translates to reduced credibility of the nation and the Council at large (Irwin, 2006, p.44). Taxation has been a great impediment for artistic supporters today. The Australian law asserts that every coin whether from fundraising, donors, and crowd support must go through the process of taxation. The Endeavour has frustrated many artists and supporters because they eventually find that large of portions of money end up in taxes. Under normal circumstances, support funds should not go through taxation because they seek to assist the weak and needy people in the society. Taxation has discouraged many people because federal and state governments find it as an opportune chance to get revenue (Johnson, 2006, p.299). Fairness and equity have not been an issue of concern when considering potential beneficiaries of the program. In most cases, the best artists might fail to get appropriate financing giving an opportunity to others who might not give the best. This has been a great challenge warranting a prompt change to ensure that quality and integrity works in the industry. Therefore, it is important to ascertain the quality of artistic work before financing. The approach will increase the quality of artistic work in the market (Metcalfe, 2006, p.89). Future economic sustainability for art industry The government and Australian citizens must embark on policies and strategies that will embrace Australian art (music and art). The government must strengthen Australian council through increased financing monitoring to ensure that it utilizes the allocated funds for the good of the artists. The culture of quality and accountability is essential to ensure that the industry reaches the required quality standard. On the other hand, the citizens must support the artists both at local and national level. The local artists must get support from the local businesspersons and able people to ensure that they realize their goals. In the same breath, the artists at the national level must get relevant support from the government and established corporations. The conglomeration will face out the enigma of artistic misdemeanor increasing credibility and quality of art in Australia (Sutton, R. 2015, p.196). Donors and nonprofit bodies must engage in frequent campaigns to support artists. They should also secure contracts for promotion for the artists, and this will eventually promote them to become better and fulfilled individuals in the society. Donors normally fund the best artists through special programs and the respective holders and government must create an ideal platform for it to take place. Adhering to the terms will eventually increase quality and credibility of the industry (Throsby, 2008, p.17). The artistic industry is paramount in every society today. Supporting and promoting artists is paramount because it increases the authenticity of the country. Australia has embarked on desirable programs to support the musicians and artists to increase their income and to fulfill their desires. Australian Council, donors, fundraising, grants and crowd -funding are among the most instrumental sources available in Australia. They have managed to alleviate the artistic world although more effort is essential to improve and fulfill the artists. References Altman, J. (2003). People on country, healthy landscapes and sustainable Indigenous economic futures: An Australian review of public affairs, 4(2), 65-82. Bramwell, B., & Lane, B. (Eds.). (2000). Tourism collaboration and partnerships: Politics, practice and sustainability (Vol. 2). Channel View Publications. Buultjens, J., & Fuller, D. (2007). Striving for sustainability: case studies in Indigenous tourism. Dalle Nogare, C., & Bertacchini, E. 2015. 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Yigitcanlar, T., & Velibeyoglu, K. F2008. Knowledge-based urban development: Australia. Local Economy, 23(3), 195-207. Read More