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Chapter 3 Funding Your Festival

DOI: 10.23912/978-1-911396-82-6-4076

ISBN: 978-1-911396-82-6

Published: January 2019

Component type: chapter

Published in: Principles of Festival Management

Parent DOI: 10.23912/978-1-911396-82-6-3894

Abstract

Every organisation needs money to get going, and this includes non-profit ventures. The reasons why they need it may vary, as may the sources. To get a venture off the ground it generally needs ‘start-up funding’, whether it be borrowing £50 off your auntie to pay for the costs of printing some flyers, or maybe setting up a limited company, or borrowing £250,000 from a bank or financial institution to open several shops and an office. Whichever it is, you will have costs. So, unless you have a large sum of cash lying idle, you will need to find a way of raising money to get things started.
Another reason for needing cash is if you know your venture, be it a new festival or a community arts venture, will not generate enough box office or other earned income to cover its costs, meaning you will be making a loss from the outset. In this case, if your project meets a well-articulated social need you will be able to make a case for start-up funding and money to cover its running costs. How you make the funding approach very much depends on your festival’s ethos and its legal structure. We covered the first of these in Chapter 2 and the legal issues are covered in more detail in Chapter 6. This chapter will give you the framework that ties together your festival objectives, its legal structure and the potential funding sources as well as some of the techniques you will need for raising that all-important cash.
This chapter focuses mainly on fund-raising for not-for-profit or social enterprise festivals. The principles of persuading donors or bodies like an Arts Council are not that different from those of persuading commercial investors, other than that the return you would promise commercial investors would be financial rather than social or artistic objectives. The chapter starts by looking at those differences.

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Contributors

  • Paul Kelly, Festivals Organiser and Fundraiser (Author)

For the source title:

  • Chris Newbold, De Montfort University Leicester (Author)
  • Jennie Jordan, Leicester Castle Business School (Author)
  • Paul Kelly, Festivals Organiser and Fundraiser (Author)
  • Kristy Diaz, Loughborough University (Author)

Cite as

Kelly, 2019

Kelly, P. (2019) "Chapter 3 Funding Your Festival" In: Newbold, C., Jordan, J., Kelly, P. & Diaz, K. (ed) . Oxford: Goodfellow Publishers http://dx.doi.org/10.23912/978-1-911396-82-6-4076

References

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https://doi.org/10.5040/9781501309038.0020

Arts Council England (2018) Funding, www.artscouncil.org.uk/funding [Accessed 29 October 2018]

BBC (2018) Businessman Richard Cousins 'leaves £41m' to Oxfam. www.bbc.co.uk/news/uk-45256241 [Accessed 29 October 2018]

Botting Herbst, N. and Norton, M. (2012) The Complete Fundraising Handbook. London: Directory of Social Change

Ingenious Media (2018) Our expertise Live Entertainment www.ingeniousmedia.co.uk/our-expertise/live-entertainment/ [Accessed 29 October 2018]

Martin, V. (2016) Rock in Rio: The Festival. In: Newbold, C. and Jordan, J. (eds.) Focus on World Festivals: Contemporary case studies and perspectives. Oxford: Goodfellow.

Pharoah, C., Walker, C. and Goddard, K. (2017) Giving Trends 2017. London: Association of Charitable Foundations. London: Directory of Social Change

Reynolds, J., Huyton, J. and Hobson, C. (2017) The Guide to UK Company Giving (11th ed.) 2017/18. London: Directory of Social Change

Ross B. (2018) National Arts Fundraising School [webinar] 18 September, The Management Centre webinar series

Routley, C., Sargeant, A., and Day, H. (2018) Everything Research Can Tell Us About Legacy giving in 2018: A Literature Review, Legacy Voice. http://legacyvoice.co.uk/wp-content/uploads/2018/05/Legacy-Voice-lit-review_full-report_03.pdf, [Accessed 15/10/2018]

The Big Lottery (2018) Funding, https://www.biglotteryfund.org.uk/funding [Accessed 29 October 2018]

The Bottom Line (2018). The Festival Business. BBC Radio 4. 26 July.

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Chapter 3 Funding Your Festival [Details]Price: £5.99
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Published in Principles of Festival Management

Chapter 3 Funding Your Festival [Details]Price: £5.99
(£7.19 including VAT)
*
Licences / Downloadable file
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