Filed under: Etc., Marketing/Advertising, GM, Lifestyle
With an artistic industry driven by business, as enterprise goes, so goes art -- so when a prime mover goes down, it takes prime art with it. The reduction in General Motor's fortunes also means that Detroit's cultural institutions can collectively expect to lose more than $1 million in annual funding. In 2007, GM's worldwide giving amounted to $31.4 million dollars, with Michigan institutions alone receiving $12 million of that.

This year's giving will be nowhere near that amount. A final budget hasn't been established, but the GM Foundation has told groups like the Detroit Symphony Orchestra, the Detroit Institute of Arts, the Michigan Opera Theater, and Mosaic, a youth group, not to expect any funding this year. An executive from the foundation said that bridge loan money won't be used for philanthropy -- that doesn't mean the arts won't get any funding; it just lets them know that they'll need to start looking elsewhere for alms.

[Source: Freep]Trickle-down effect: GM Foundation slashes arts and cultural funding originally appeared on Autoblog on Thu, 15 Jan 2009 10:01:00 EST. Please see our terms for use of feeds.


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