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 2010, the 346 organizations reported revenues of over $710 million with 70 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 IncomeIn 2010, these 346 organizations received contributions in near equal amounts from Government, Corporations, Individuals and Foundations.
