Penn Report: More Culture Than Donors Will Support
Submitted by Steve on February 9, 2015
From Peter Dobrin, writing for The Inquirer:
A new William Penn Foundation-commissioned study paints a portrait of the Philadelphia arts scene as rife with both promise and peril. The report, which examines more than 160 groups, says some are coming up with innovative ways to adjust to changing demographics and ticket-buying patterns, but it also finds that 70 percent are in poor financial health, undercapitalized, and unable to withstand financial stress or to fund new ideas. And while there is a promising new generation of philanthropists in the area, they have not been persuaded by arts groups to loosen their purse strings.