Bloomberg.com: “Corporations and wealthy individuals are donating less to nonprofits, with arts groups taking the biggest hit, according to two new studies.
Of 158 companies polled by the economic-research group the Conference Board in February, 45 percent said they have reduced their 2009 philanthropy budget and 16 percent are considering it. The survey said 35 percent of the companies will make fewer grants in 2009 and 22 percent are thinking about it.
When asked what they anticipate as their biggest challenge this year, companies cited an increase in the number of grant requests, inadequate financial resources and declines in the value of corporate foundation endowments.”
Los Angeles Times: Artists are losing jobs fast and furiously
According to new research announced today by the National Endowment for the Arts, working artists are unemployed at a higher rate than other workers, and at a rate that is rising more rapidly than other professions. Presumably as a result, more artists are leaving their profession.
— Artists are unemployed at twice the rate of professional workers, a category in which artists are grouped because of their high levels of education. The artist unemployment rate grew to 6% in the fourth quarter of 2008, compared with 3% for all professionals. A total of 129,000 artists were unemployed in the fourth quarter of 2008, an increase of 50,000 (63%) from one year earlier. The unemployment rate for artists is comparable to that for the overall workforce (6.1%).”