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Publications: finance Theme

The New Nature of Money

Changes in the environment – economic, demographic and social – may challenge the health of an organization. How can a leader improve his or her organization’s financial strength so that it can nimbly adapt and adjust to these changes?   In “The New Nature of Money,” Peter Frumkin explores a framework for thinking about financial sustainability as linked to the business model and financial flexibility.  As the author discusses, there are a variety of ways in which sustainability can be threatened or enhanced through the management of revenues and expenses.  Sustainability and flexibility combined are the lynchpin of creating greater value for patrons and communities.

Read “The New Nature of Money” by Peter Frumkin »

 

 

There Are No Crises, Only Tough Decisions

There are no crises in the arts – there are crises in arts organizations as they are currently constructed. Audiences are not shrinking, they are growing, but they are not necessarily interested in consuming all the art our member organizations produce. Between 1970 and 2010, the number of arts organizations grew from 2,700 to 27,000 but the number of people funding them, and attending their events, did not grow at all. In this keynote address delivered at the joint annual conferences of Chorus America and The League of American Orchestras, Russell Willis Taylor, President and CEO of National Arts Strategies, explores the extraordinary opportunities that arts organizations have today.

Read the text of the speech, “There Are No Crises, Only Tough Decisions”

 

Financial Management Practices

We investigated financial management at leading arts organizations to understand how their practices could be used across the arts sector. With funding from The James Irvine Foundation, we developed a framework and publication, written by NAS Vice President Jim Rosenberg, that you can use to assess your own approach.

Read the report,
“Learning from the Community: Effective Financial Management Practices in the Arts”