For the Good of Illinois

Real Clear Policy: Funding America's Richest Arts Institutions

July 14, 2017 09:58 AM
(not rated)

2016-05-14_0-20-38            

Original Article Click Here.

July 14, 2017

Funding America's Richest Arts Institutions

By Adam Andrzejewski

National_Foundation_of_the_Arts_and_Humanities

Source: OpenTheBooks.com.

OpenTheBooks, an Illinois-based transparency organization, released our oversight report on all grant-making in 2016 at the National Foundation on the Arts and Humanities (NFA-H) — the umbrella organization of the National Endowment of Arts, the National Endowment of Humanities, and the Institute of Museum and Library Services. 

In 2016, nonprofit and higher education organizations across America received grants of $183 million. Recipients included 71 financially rich entities — each with asset bases exceeding $1 billion — that were awarded $20.5 million. 

In the arts community, there is a stark contrast between the haves and have-nots. We found that 71 charitable organizations, with at least $1 billion each in assets, received nearly $120 million in federal funding since 2009. The the "starving artist" organizations — 1,027 organizations with assets under $1 million — received just $41 million in federal grants (FY2016).

Similarly, higher education institutions across America received $45 million in 2016, despite controlling financial assets of $428.3 billion. Six of the eight Ivy League colleges received grants along with Notre Dame, the University of Chicago, and the University of Michigan.

Original Article Click Here.
 

Back

 

Comments

 

Rate this News Article:



 
   Indicates required field
Name
 
City
 
Email
 
State
 
Comment
 

2000 characters left

Please enter text you see below
 

No comments have been posted to this News Article