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Revenue

Diversifying and Leveraging Revenues

earned-income

Michigan’s arts and cultural organizations are strategic in their efforts to diversify their revenue sources reducing dependency on any single revenue source and building long-term growth and sustainability.  In 2011, the 424 organizations reported revenues of over $646 million with 56 cents of every dollar generated through earned income sources. Demonstrating great resourcefulness, these organizations raised funds through rental income, tuition, tickets and merchandise, membership fees and dues, and contracted services, as well as through contributions, such as grants and donations from individuals, government and foundations, and from interest income. Like for-profit businesses, nonprofit arts and cultural groups are developing more strategic ways of doing business as they adapt to Michigan’s changing economy, the shifting needs and interests of their communities and audiences, and the growing opportunities in technology and innovation.

Diversifed Contributed Income

contributionsIn 2011, these 424 organizations received contributions in near equal amounts from Government, Individuals and Foundations with the exception of Corporate contributions which decreased more than $12 million in one year.