Research reveals direct funding for individual artists has fallen by a third since the mid 1990's and an alternative funding model is needed to support artists and nurture creative work.
New Models New Money, a discussion paper developed by Arts Queensland and the Centre for Social Impact, proposes the establishment of a Foundation for the Artist - the first of its kind in Australia - to bring together public, private and corporate funding for artists.
Read New Models New Money media release
Peter Shergold, Macquarie Group Foundation Professor at the Centre for Social Impact, said that the research, ‘Arts Plus, New Models New Money' showed funding emphasis in Australia had shifted toward arts institutions and major companies, leaving proportionately less funding for individual artists.
He said a Foundation for the Artist would complement existing agencies and provide a range of options for artists and donors, from micro-loans to fellowships and superannuation planning.
"Few realise the creative economy contributes as much to the national economy as agriculture, and its importance is set to grow in the 21th Century," said Professor Shergold.
Julianne Shultz said "Every aspect of the arts is interrelated. Strong arts companies, in turn, require a pool of brilliant individual artists. If we ignore one component, that weakens the whole. It is artists, in isolation or together, who are the creative turbine at the heart of the creation of cultural value. The challenge is how to recognise, support and enhance that activity.
"The Foundation for the Artist will be an independent organisation with multiple sources of income, a capacity to explore new approaches to financing, and designed to supplement and complement the work of others who fund the arts," she said.
Artists, donors and other stakeholders will be invited to respond to the proposal as part of a feasibility study, which will also examine the foundation's governance, charter and operational requirements. It is envisaged the new foundation will be operational from 2011 and in a position to dispense funds from 2012.
The discussion paper was developed with input from a range of sector representatives, including David Gonski, David Throsby, Robyn Archer, and Frank Moorhouse, and follows from an idea first canvassed at the Prime Minister's 2020 summit in 2008.
Read International Research (produced by Positive Solutions)
Read Full discussion paper
Read Australian Survey
Australian Survey Appendices