Minister helps launch new challenge fund to stimulate philanthropy for culture. Yesterday, Ed Vaizey, Minister for Culture, Communications…
The new pilot challenge fund for the arts launched with an initial fund of at least £500,000. In partnership with UK philanthropist Alec Reed and his Big Give website, Arts & Business has designed The Big Arts Give to dramatically reanimate individual cultural philanthropy in this period of economic difficulty.
“The UK’s sustained success in the arts and culture is underpinned by a combination of funding from public and private sources, box office and commercial revenue,” Mr Vaizey said.
“We owe enormous thanks to donors like Alec Reed for their profound generosity to the cultural life of the nation. I think the Arts & Business Big Arts Give is a terrific idea and I hope, in particular, that it will unlock additional funding for some of our smaller cultural bodies.”