A while ago we added a level of detail in the benchmarking to separate out grant funding income from sales income. We did this in response to the growing cohort of arts and cultural organisations that are starting to use MyCake and whose income structure is a little different to the creative entrepreneurs.
We’ve also seen that quite a few of the growing Creative & Digital Industries companies are in receipt of grant funding as part of their scale up before they seek private investment so it’s become useful for this crowd as well. More on this topic in a separate post….
Sarah’s work with arts organisations has, thus far, been as a consultant and strategist focussing on ways of developing earned income streams from intangible assets. Based on 5-6 years work she’s developed the following model to help organisations review their internal strengths and motivations and look at how these might connect to opportunities outside the traditional arts & funding arenas.
As the next step on from the model, Sarah is working with a pilot group of arts organisations to review the development of earned income streams under these headings, assess the financial sustainability of their models and look at ways to improve their position. The intention is to develop MyCake to a point where we can offer this more detailed comparison and analysis of income types through the benchmark dashboard.
So, does this sound like a useful too for you? Let us know what you think in the comments. Also, if you’re an arts organisation and would like to join the arts benchmark pilot please get in touch with Sarah.