The new philanthropy: Its impact on funding arts and culture

This article examines the impact of "new philanthropy," particularly venture philanthropy, on funding for arts and culture at the turn of the 21st century. It discusses how societal influences like technological innovation, wealth creation, new demographics, and government retrenchment reshaped the philanthropic landscape. While overall private giving grew significantly, arts and culture did not fully share in this growth, receiving a smaller percentage of total philanthropic distributions despite increased dollar amounts from foundations and charitable gift funds.