Inspiring Prospects - From Funded by the Arts Council to Developed by the Arts Council

The document, Inspiring Prospects,  published by the Arts Council earlier this year. has identified the necessity of moving from being a funding agency to a development agency. I would wholeheartedly agree. Ireland - in general - is very poor at development in all areas. I welcome this shift in focus, but we need to analyse it. Lets' be honest,  with the council on the back foot financially it would be very easy to see this statement as a necessary cover-up: we can't afford to fund anything so lets say we're in development. (I remember a very senior local authority person at a board meeting for an arts organisation some years ago, when he finally realised that the organisation actually had no money, suggest "could we not do a few community projects? You know, they cost nothing and you get a load of people involved".  Let's hope we're not heading for that kind of development.)

The document uses the terms  ‘Development’ and the ‘Public Good’ but does not really explain what they mean by these terms (sure we all know what they mean, don't we?). When we talk about development are we talking about the development of the audience (a much needed increase in market size) or are we talking about the development of artists (what kind of development and how do we achieve it?), or are we talking about the development of the arts sector, (transforming it from a community of occasionally shared interests into a viable Cultural Industry?) And of course we have to ask, development to what end?

And how do we measure the impact of what we do on the ‘Public Good’? This is a real question and a real economic conundrum– what are the metrics and the methods? There are numerous ways of assessing the value of the Public Good, but they are complex, time consuming and not all are in agreement. (As an aside, the ‘Public Good’ concept does not carry much sway in neo-liberal economic ideology). What we can say is that The Public Good will not be significantly impacted for at least a decade, so are we to divert limited resources to a ten year longitudinal study and expect the political system to wait for those results?

A shift from funding to development can be compared to a losing team switching from an offensive to a defensive strategy when the real issue is they shouldn't be playing the game at all and they certainly shouldn't be on that pitch. In other words if we are to move to development then the wider context of the arts needs to change and not just the intent and funding tools of an already hard pressed Arts Council.

The arts are facing a raft of challenges created by the alleged decline in audiences, by new technologies, by rising costs, and by shifts in economic ideologies; these challenges demand a reappraisal of the role of the arts in our society, of the relationship between the arts and the state (and the economy) and an understanding of the changing intellectual framework in which the debate on the arts and “the cultural industries” is carried on. We really don't need to be rearranging the deck chairs again. 

The challenges facing the Council and the arts community at this time are far greater than those brought about by the decline in what was – even at its height – a below par level of state funding. The challenges are not just a function of how much money the council has to disburse but are embedded in the legislative framework (the arts act really needs to be rewritten and made fit for purpose), the tax environment, the funding sources and models, the simple mathematics of market size, and the wider political “culture” of state funding that has created a ghetto of grant dependent, exclusive, high art categories and has no real faith in, or understanding of, the inherent value or the social function of the arts.

(It's been suggested to me over the last few months that the problem is further exacerbated by a lack of understanding and belief in - at the most senior levels - the artists and the art produced - but that's another story).

If the arts council is to become a development organisation then we need to ask what will it develop, and at what point the development becomes sustainable? 

This shift toward development is informed (as nearly everything is) by the Arts Act, in particular the phrases “stimulating public interest in the arts, promoting knowledge, appreciation or practice of the arts, or improving standards in the arts”.  But all of these are educational activities and really should be returned to that portfolio at the earliest opportunity. Even if the Arts Council ceased funding all of its clients and tried to run programmes to meet these objectives they would have very little impact without the co-operation and integration of the educational system (which is also under enormous pressure).

I would agree that audience development based on community involvement is an essential component of any plan but audience and arts production must be developed together and that is one of the big challenges. There is no future in developing an audience for a product, service or experience that either does not exist or cannot attract and retain an audience, and conversely there is no point in developing a product, service or experience for which there is no audience.  The dependency model of state funding deployed over the last twenty years has created a situation for the cultural industries where their principal customer is the Arts Council, and their efforts are all turned toward winning that customer, despite its ever-decreasing purchasing power. The side effect of this is that the cultural industries have put less time into developing and working with their audience than they have into creating approved art. 

The Council, the Department, the Government and the Cultural Industries must work toward creating new, real sources of funding if investment strategies and behaviours are to be changed, but we need to acknowledge that the council engages in funding and not investment (although that can change). We also need to acknowledge that everything in Ireland is funded – either through direct state spending or soft loans, tax relief, low corporate tax rates, FDI support, bailouts, underwriting and other incentives. The availability of funding is not really the issue, it is the availability of multiple sources, channels and forms of potential funding that effectively distribute risk and can maximize potential returns that need to be addressed. (There are numerous effective ideas emerging from the UK and from Horizon 2020 to do with tax relief, incentives, debt underwriting and risk management all of which should be factored into any model of development).

For example, it should be possible for an arts project to be debt financed with that debt underwritten by the arts council over several years, and if funded by the Council then the council should share in the rewards if that project is commercially successful.

The problem with the current arts funding model is that money is perceived to leave the government coffers and never come back. It does of course come back in direct and (punitive) indirect taxation but optics are everything. For example the €12 Billion corporate tax that Apple managed to avoid paying is not seen as funding - but that is precisely what it is.  A development approach needs to understand the many, many ways that funding can be accessed. 

It is a commonplace of contemporary cultural economics that commercial and subsidised are not two opposing forces but opposite ends of a continuum. We need to make it easy for artists to travel along that continuum (they certainly can't make a living in the subsidised sector), and we need to realize that the "commercial" artist has the right to fail and the non-commercial artist has the right to make money. As a development agency the Arts Council can either  develop a type of work that it likes and approves of or it can develop an industry in which many permutations and possibilities thrive, and in which the risks of failure are effectively managed.

As a final note it is important to say first that the Arts have always been undervalued in Ireland, and second that we need to stop apologizing for the rising costs of the arts – it is in their economic nature, not a function of greed or mismanagement.

In summary I would say that the future of the cultural industries – of the Arts in Ireland - depends on our ability to create and manage multiple sources of funding and on our ability to create wealth from that which is funded.  That is what a development agency does.  Let the artists get on with the art.

You Can't Fund Art and You Can't Fund Artists

OK. Lets consider the idea of the subsidised arts for a moment, and lets consider the implications of the use of the words "art" and "artist".

Funding Art - that is committing money up front in the belief that the eventual product will be Art is perhaps the highest risk use of public money you can think of. Why? Because there is no guarantee that what will be created with that public money will be Art. Further, before a piece of work can be designated Art , a whole bunch of people have to agree that it is Art - and they can't agree if it doesn't already exist.  You can't decide on Art in advance. So really, you can't actually fund art, because art only - hopefully - exists at the end of a process. Yes, you can invest in art (ask Saatchi), but again the art has to exist before you can do that. 

The same logic applies to artists. For a person to be designated an artist they must have a body of work behind them,  and a whole bunch of people have to agree that that persons work contains sufficient Art for them to be considered an Artist.

So you see the problem? If you talk about Arts and Artists as the object of funding, then logic immediately dictates that you allocate the lions share of your resources to established work and individuals with an existing reputation. Development, the life blood of any organisation or industry, becomes less important because new work and new people - by definition - cannot be considered art or artists and are therefore not suitable objects for arts funding.  

Yes, you can argue that the "arts" is different to "Art" and an "artist" is different to an "Artist" but the words are the same, and confusion will, and does, ensue.  Of course the other real problem is that the status of art and artist are both entirely matters of opinion.  One person, or activity or organisation gets funded because another person or group of people like it - or worse, thinks that they should like it. 

I would suggest that we need to move out of this logical and semantical dilemma by admitting to ourselves that art is not a process its a product and we don't start as artists we become artists (perhaps more accurate to say that we move in and out of an Artistic state), and that Art is never, ever a guaranteed outcome. 

So, what is it that we want as a result of this funding? And if we can't fund art, what is it that we want to fund?  Creativity? But creativity in what and for who? 

Maybe, if we stop using the words art and artist when we talk about funding we might discover a better way of using that funding. A way to support a sustainable environment that can devlop creativity and maybe produce some new art along the way.

So, what do we all think?

Get Some In! The Hunt for an Audience

I've been hearing for a while now that a lot of companies and organisations are feeling a lot of pressure to justify their existence in terms of audience numbers. A pressue manifesting inself under the rubric of Audience Development.

I'm a great believer in audiences: one of those people who feel that the work is almost pointless without an audience. However, can any of the organistaions currently feeling this pressure actually develop the audience, actually make it bigger?

If you look at the audience statistics for live theatre in Ireland, the UK, the US, Canada and Europe (in general) a remarkable pattern emerges. On average, accross all these territories, the theatre audience comes in at about 20% of the population. There are of course highs and lows but the standard deviation is not particularly significant. More importantly this rate has been fairly consistent over time.

When you see a pattern like that you realise that what you're looking at is a "base rate". There are a couple of important things about a base rate: there may be variations in any given time period but the tendency is for the figure to return to that rate. In other words about 20% of the population attends theatre and that's it. No ammount of marketing strategies or audience development programmes will boost that in any significant way. True, an effective marketing campaign or development programme may boost a particular organisations market share (they get more of the 20% than another organisation, which means of course that the other organisation loses market share) but all the shows are fighting each other for a share of that market.

What we can do is shift our focus from increasing the audience to increasing repeat business. We can have very little impact on the base rate but we can influence and affect the number of times an audience member comes back to us. Repeat business is about the quality of the experience; and quality of experience is only partly about "how good" the show is. Its about how a person is welcomed into the theatre, its about the atmosphere once they're in, about the facilities, its about the quality and quantity of the communication with them, and its about what happens when the show is over. Its about inclusion and belonging. By all means lets have a small audience so long as we have a good relationship with them and so long as they come back again and again. As Anne Bogart says, we must tend the audience.

Can the base rate be shifted upwards. Probably, if we knew what was driving it. It's not been driven by marketing or by outreach or by development programmes. Common sense would suggest that the base rate is driven by education, by accessibility, social class, and income levels. If you want to make the base rate grow then you need to address these areas across the whole of government - and that is out of the hands of the individual organisations.

Assessing the Abbey, Branding, Joss Wheedon and The Need for Soul

Some years ago the great Tom Coughlan, pipe in hand and smile on his face as always, told me his plan to revitalise the theatre industry in Ireland (the perennial problem). Let the Arts Council give a shed load of money to Saatchi and Saatchi to run a twelve month campaign selling the "idea" of theatre to the general public. Problem solved.

Tom is a hard man to disagree with so I nodded but secretly thought it was a bit simplistic and off the point.

The recent Abbey debacle over assessment brought Tom back to mind. Before I go any further let me say that, in my opinion, this debacle is precisely that: neither party should have suggested or agreed to an outmoded, discredited and secretive process; the assessment should have been contextualised by extending it to all other major clients; the media shouldn't have allowed themselves to be played the way they were and we could have done with a bit less bandwagoning.

I'm also a part time conspiracy theorist so forgive me for suggesting that  - from a certain point of view - the whole thing smells like a plan to discredit Senator MacConghaile and justify further funding "rationalisations" coming down the track.

Personally I've seen some great shows in the Abbey and some absolute shit (in my opinion), but I've had the same experience everywhere. The worst show of the last twelve months was an RSC production in Stratford. But that's the nature of the process - win some, lose some: fail again, fail better.

As I mulled all this over beneath the naked swinging lightbulb of my conspiracy chamber deep in the recesses of my mind I suddenly realised that Tom Coughlan had hit upon a great Truth.

It seems to me, having spent a year in the company of people with no professional involvement in theatre,  that from their point of view there is no "theatre experience" in this country. Don't get me wrong, there are theatres and theatre companies, productions and personalities and artists, but they don't add up to anything coherent, greater than the individual parts. There's no sense of an "experience" that exists over and above any given production.

Tom would have said there's no Brand. And I think he might be right.

Brands and Branding can sometimes be thought of as dirty words, a trick employed by rapacious  corporations. But a brand doesn't work if you think its something you can put on like a ready to wear suit. The best brands emerge from a deep understanding of the emotional connection between you and  the people you engage with, they emerge from passion and focus and creativity. They change your behaviour and they change the way you think, they are an expression of vision, belief and perception that exist over and above, independently of, any particular manifestation.

Think about Apple.

Apple is bigger and more significant than any of its constantly replaced and upgraded products. The iPhone, the iPad, the iMac are - more than anything else - proof, talismans if you will, that you are a particular kind of person. Like many people I have done the pilgrimage to the Apple store in New York. Not to buy anything. Just to experience it.

A brand is an experience. It is something that people belong to; it expresses and defines us and - and at its best - it is something that is loved passionately. If Apple produce a dodgy product we forgive them and defend them against all critics (although if we get a slate of dodgy products we lose faith, we stumble with them, and the brand begins to break).

So, does theatre in Ireland, not any particular instance of it but THEATRE, have a brand identity? Or is it just a random dispersal of places and events, silos ultimately, manifesting nothing beyond themselves.

A brand exists when the experience takes precedence over the thing. When the experience, the emotional investment, the relationship, of being at the theatre (not at a particular place to see a particular company) takes precedence over the strength or weaknesses of the specific production, we have a brand; we have a culture.

In the absence of that we have a  collection of random, discrete events expressing only themselves for their brief hour upon the stage. We have marks out of five and the assessment of the Abbey.

A brand is a manifestation of soul, an expression of purpose and community. I would suggest that the absence of brand is a hallmark of society, not just theatre. When our national leaders run around desperately trying to "rebrand" Limerick and the like they are expressing a desperate national need to find a soul again, to find purpose and community.

As one of my heroes, Joss Wheedon, remarked in an interview, "You can't make something that people like. You have to make something they love. And they have so much love to give".

Limerick: ask the question.

The recent controversy emerging from Limerick City of Culture stems from that unresolved debate on the function and purpose of culture and the arts industry: who is it all for?

There would be no controversy if the answer to the question "who is this for" was made and given clearly and unambiguously at the start of the process.

Is the City of Culture for the people of Limerick? A year long initiative to improve the quality of life.

Is it for the artists of Limerick? An opportunity to develop and create work.

Is it a commercial opportunity? A chance to use culture and the creative arts to rebrand the city internationally, attract some tourists and some FDI (Foreign Direct Investment) and boost the local economy.

These objectives are not mutually exclusive but thier prioritisation needs to be clear from the outset and all the stakeholders need to understand and AGREE  on it.

Shared vision. Clear objectives. Agreed outcomes.

I suspect that this open and frank conversation did not happen in the first phase of the project. Which is why the stakeholders are now viewing each other with suspicion and pulling the project in opposing directions.

(What's most shocking is that you would expect a city council to be up to speed on best practice in project management. Clearly they're not.)

If this assessment is correct, that the important conversation did not take place at the outset, this begs the question, "why not?"

There are numerous reasons we don't have frank and open conversations at the start of any relationship - business, personal or otherwise. The reasons are nearly always a mixture of fear and contempt. Harsh words, but reflect on them for a moment, and consider the words that have been used by all sides over the last few days.

What the City of Culture controversy has highlighted is a national, systemic and cultural problem: we have no shared vision of our society that can incorporate the needs, skills and aspirations of all stakeholders. We have no common language nor mutual respect and the default mode of engagement is how we can exploit the other. 

With regards to the Limerick situation no amount of resignations, reappointments or apologies will mend the situation. It needs an intervention: everyone, EVERYONE, needs to talk about Art.

Never Waste a Good Recession

As the recession continues to deepen and the cuts in arts spending continue apace I want to share a fantastic quote from John Berger. Its from his introduction to Arundhati Roy's collection of essays - "The Algebra of Infinite Justice". Berger says this: "For those living with some comfort in the First World, the future no longer exists as a common reference point. Yet, for human beings, being sane depends on the acknowledgement of a continuity between the long since dead and those waiting to be born. The richer societies are being increasingly deprived of a temporal dimension essential to any spiritual life".

When I read this it occurred to me that the word I hear most frequently in the media and from the mouth of politicians is "back". Back to the markets; back to 2007 levels; get our sovereignty back; get back to where we where.

But aren't we where we are because of where we were? Surely the point is to move on from where we are to someplace better? Somebody once remarked that every organisation is perfectly designed to achieve the results it achieves. In other words we are where we are because where we were was perfectly designed to get us here. So why would we want to get back to it?

"...the future no longer exists as a common reference point" says Berger, implying that we cannot, collectively, imagine a future. Sure, we can imagine more stuff, but can we actually imagine a better way of organising ourselves? The mainstream media and the mainstream politicians don't seem to be able to imagine a better world. They can imagine the same world and promise that they'll manage it better next time but what evidence is there to support such a claim. (The latest Oxfam report has claimed that "Globally the incomes of the top 1% have increased 60% in twenty years. The growth in income for the  top 0.01% has been even greater." Never waste a good recession).

Any suggestion that there is another way of organising a society, managing resources, providing services, exchanging stuff is dismissed as silly, or as dangerous, or worse, as Leftwing.

Imagine another way of doing it.

One of the common themes in the literature of Leadership, dating back to the Greeks, is that of Vision. Leadership is equated with the ability, first and foremost, to imagine a desirable future. Yes, the Leader is then expected to be able to communicate that vision and motivate us to want to reach for that vision, but first and foremost the Leader must be able to imagine that new world. "I dreamed a dream" as Martin Luther King said, or in the words of Steve Job's favourite ice hockey player "I skate to where the puck is going to be; not where it is".

What we really lack right now, within the official structures of our society,  is Leadership. The ability to imagine a desirable outcome, communicate that desire and marshall the available resources to undertake the journey. Many people have anger and passion. Others have nostalgia masquerading as Leadership. I fear that the latter group have their hands on the wheel.

But this is meant to be a blog on arts. So is there a crisis of leadership in the arts. I would say yes. At this point everybody starts citing examples of great people doing genuinely great things. I know some of them and envy many of them but this is not about the people doing incredible things despite the constraints. This is about the constraints.  As one writer put it, I can't remember who, "we should not confuse Leaders and Leadership".

I would argue that the structure in which arts struggle has to change. The structure is in the keeping of the Government and its appointed agencies. They are ones who, at this time, control the investment and make the policies, decide what art is good and what is not, decide who gets the resources and who doesn't. The cuts continue and they continue as if there were only one way of doing business - the way that it has always been done. No vision. Sit tight and it will all be fine. We'll get "back" to where we were eventually.

No. We won't.

There will be more cuts this year, and for the foreseeable future. Lets not forget that the reduction in state spending is not a temporary measure. Once state spending is reduced it will stay down because that is what this economic ideology demands and because unless we return to double digit growth (which is not going to happen) we will not have the money to get funding levels "back" to where they where.

I had a conversation with Paul Meade of Gúna Nua late last year. We were talking about funding and funding cuts. The point was made that the arts could never win the "which do we fund? The play or the Hospital Bed" argument. And the Arts cannot win that argument.

A Leader would say that this is the kind of argument managers have. The real conversation, the Leadership conversation is what kind of world do we want to live in and what place do the arts have in that world.

But we can't have that conversation because, according to the people in charge, we already know what kind of world we want: it's this one, we just have to fix it.

The last two lines of Howard Brenton's translation of Brecht's Galileo come to mind:
 "Unhappy the age that has no heroes.
No. Unhappy the age that needs them"

Never Waste a Good Recession, as some famous business man said prior to a bout of asset stripping and "rationalisation".

The Arts - like every other institution in our society - have an enormous opportunity now. Previous strategies failed to create a resilient, sustainable and integrated industry. The Arts are not the heart of our society, not at the heart of our educational system, and are dependent on a single source of investment supporting an overwhelmingly consumer model of social value.  If we wait to get "back" to where we were then the size of the arts sector will dwindle. The challenge to us all is can we imagine another kind of industry, another way of doing it.

So. First step.

Vision.

Do we have one?

So thats where the money is.

A friend of mine informed me of two new Arts Council inititiatives recently. Both were built around donations. The smaller one offers to add 50% of the value of what you raise and the bigger one, called Raise,  offers mentorship to large organisations to help them implement an effective fundraising campaign. This focus on alternative sources of income is to be welcomed.

We all know how hard it is to raise a donor base and sponsorship in this country, so have they got the strategy right? Will theses schemes make it easier for organisations to raise money? Of course they won't.

Why?

Because the incentive is in the wrong place. We don't have a culture of giving because the giver is not encouraged or supported in the giving: there are no tax breaks for charitable donations that can compare with international best practice or that can compete with the available business investment opportunities.

I remember sitting down with a very qualified prospect a couple of years ago while trying to build a donor base for Gúna Nua. The guy owned a successful, medium sized business in management training, was a friend of the family, and loved theatre. I'd finished my training with Tom Suddes and I made a good presentation and a clear ask. He considered and said "I spend about a €1000 a year on tickets. So does my wife. I pay a lot of tax, some of which makes its way to the arts. And you want me to give you more money? Why? I think what you do is great, but why?"

The mad thing is that if I was looking for money to start a business then the answer to his question would be that even if the business flops you'll get most of your money back within three years in tax breaks. If I'd been able to make that answer then I'm pretty sure I'd have walked out of his office with a cheque in my hand.

If you'll excuse a small digression I want to quote from an Arts Council Newsletter introducing the Raise programme: "Income from fundraising by arts organisations in Ireland is less than 3 percent of total income.  This is a much lower ratio than in other countries such as Britain or Australia, where arts organisations secure up to a third of their revenue from fundraising". It's probably just me but the tone of this seems to suggest that the arts organisations in Ireland have been very bold, and haven't been working as hard as they should, but now that the council knows what is going on in the UK and Australia we wont be allowed to get away with it any more. I don't think this tone is deliberate or conscious. I just think that there is a cultural tendency to blame somebody (usually the wrong person, and usually the person at the bottom of the decision making ladder), rather than admit that the system is flawed or broken or whatever.  At no point in the Arts Council news letter on fundraising does it mention the fact that the tax regime in both the UK and Australia - and particularly in the US supports and encourages donations.  It also doesn't mention that both the UK and Australia have larger populations and significantly larger GDPs - essentially they are bigger (and incentivised) markets. If a comparison is to be meaningful then we need to compare like with like.

The Arts Council newsletter does not acknowledge that most Arts Organisations have been working extremely hard for many years with various levels of success to raise sponsorship and donations, and that those organisations are fully aware of the obstacles to successful fundraising. It is worth bearing in mind that in the three years, 2005 -2008, The Abbey Theatre - one of the largest cultural institutions in the country with a highly skilled and experienced staff raised a total of €189,768 (about €63,000 per year on average). This is not an indictment of the Abbey's fundraising abilities, but a very clear indication of the level of interest in donating to the arts.

It doesn't matter how many schemes are run to improve the sales techniques of the donation hunters, unless the tax regulations are changed to support and incentivise charitable giving, these schemes will have minimum impact. Its basic sales: do not try to sell something to somebody who is not predisposed at a number of key levels to buy.

All I'm saying is that these schemes are great, but without changes in the tax environment they incentivise the seller and not the buyer. The net result of theses schemes will probably be a number of already overworked arts managers making massive, well planned efforts to score money that actually isn't available, and probably being penalised by the Arts Council for failing.

But c'mon, John, there's no way the tax regulations are going to change. Really? Why not? Why can't the arts avail of the same kind of tax incentives as film or small businesses? Well, we don't want a lot of people avoiding tax by hiding their money in the arts. But isn't that exactly what they do in business and film? Ah, yes, but, investment in business and film results in net employment and a significant tax take. Okay, but aren't the arts one of the most labour intensive activities available and - given their current VAT status - wont they produce a bigger tax yield?

I haven't heard an argument against changing the tax regulations governing charitable donations that was not based on ideology, prejudice or fear.  There is no real reason for the Arts in Ireland not to have the same kind of tax incentives supporting charitable donations as prevail in other countries. Put the incentives in place and the money will start to move.

But it will just take too long! And this is a serious problem. There will be more Arts Cuts in the next budget, and in terms of theatre, that tiny constellation of companies orbiting the big five will start to burn out. When you watch the bullish Michael Colgan unable to defend Arts Funding in the face of the visceral "do we save a life or do we watch a play" argument you realise that the big five will be in danger eventually as well. What's important to remember is that these cuts are mostly driven by ideology, not by economics or accounting.

So what to do. OK, here's a rediculous idea. Start a theatre investment fund.  Raise say, €5 million  from some people with real money. Put that money into a medium risk fund yielding 4% per annum. (which is about what these investors would get  if they sheltered the money offshore). In three years that fund is worth €5, 624,320. The investor's money is safe and they get it back with a small profit if they want it back at the end of the three year period. They might not want it back because its performing as well there as anywhere else in the current climate.

Now, what this fund does is,  it goes to a bank and in year one it borrows €1,000,000 and invests it in theatre production. The loan is guaranteed by the fund. There is one stipulation, and that is that whatever number of shows the fund invests in it must make its money back and show a small overall profit. Let's be optimistic and say that it makes a 20% profit on the year. It pays back the bank €1,040,000 and puts the remaining profit, €160,000 into the fund. It repeats this for all three years and the fund is worth €6,123,776.

You can increase the size of the original fund depending on the required final yield.

But surely this is pure fantasy? is it any more fantastical than expecting the Abbey to raise over  €3million a year in donations and sponsorships when they couldn't raise €200k over three years outside of a recession? Is it any more fantastical than expecting the arts industry to replace the lost millions with a potential donor base coping with higher taxes, lower incomes and negative equity?

Do we really think that there are enough people in the country earning in excess of €200,000 a year able and willing to donate to the arts in such a quantity as to support the whole industry?

Of course there isn't, and Oh gosh look, rather than focusing our attention on changing the context in which we work so that a stable sustainable industry can be built, we're back fighting each other again for limited resources. 

I look forward to your thoughts.