Image via www.daily-art.com

In the arts, a lot of money can be spent on finding money. People are employed to write grant applications, find sponsors, donors, investors and patrons. Money is poured into fundraising events and corporate partnership departments, and administrative time can be drained by servicing sponsorship programs, donors and patrons.

Ultimately, it is hoped such investments are returned, but it’s not always the case. On occasion, the resources, staff and time spent trying to find money means a deficit for an organisation.

Despite a long tradition of relying on philanthropic support and government grants for survival, a new currency has emerged in the arts sector: creativity.