Methods of funding and income generation model of an artistic organization and some other means of maintenance considered. An artistic or performing company is a company involved in performing art that ensures financially viable and artistically vibrant performance of the art sector. It has the responsibilities to collaborate with the government funding agencies alongside with the ministry involved with cultural heritage. This organization ensures artists are engaged to the maximum and their talent developed to benefit them. For one to be eligible to join the group, the following characteristics and qualities must be possessed:
- Should be a dancer who demonstrates high theatric performance
- Should demonstrate among others, the highest artistic performance standards
- Should possess an ongoing commitment to develop the personal art form
- Should demonstrate a continued commitment to develop other artists within the art form
- Should show evidence of a sizeable and continually increasing audience base
- Should have a reasonable average annual total income over the last three-year period
- Should demonstrate a continued ability to be financially viable, comprising of an increased levels of economic support from the broader audience community
Once a company or an organisation is incorporated, it has to register with the relevant authority. To qualify for inclusion in the board of performing arts categorization of companies according to roles played in the industry takes place, such as: Residential and touring, International company, Specialist company or State Flagship Company and any other way. Categorization depends on the Acts laid down by the authorities in which the company is operating. These categories can therefore vary from place to place and does not have to be applied where they may not fit.
To get an allocation in one of the four categories, a company is required to meet all the criteria for that particular category as agreed. Inclusion in any of the major performing arts board is open and only by invitation. Companies that long for consideration to be included in the board of performing Arts must submit an expression of interest to the director of the board. However, it is not a guarantee for acceptance of these applications because some laid down protocols must apply.
The performing arts board recognizes the complex problems facing identified majority of performing arts companies. Due to these challenges, it aims at working in cohort with them to address them. The culture of artistic innovation and commitment to performance excellence is highly supported in these companies. The board encourages and helps the companies to deliver a wide range of art forms with geographic and demographic access. In most parts of the world, especially the major cities, different theatres and museums have the right to manipulate their own performance techniques. This also allows for invention and innovation because, this is the fuel that keep the arts alive. The panel also works together with the individual companies to help them improve their cost and revenue dynamics through diversifying earned income, creating reserves and consolidating management skills and control processes.
Over the years, many sectors of public interest remained neglected. The government and other charitable associations and unions overlooked the areas that made them dwindle in terms of development and creativity. However, because of the turning events of the modern world, many stakeholders have realized the need to preserve and develop most of the already existing artworks. The government has taken the initiative to create a conducive environment that will ensure their success. These initiatives range from supportive regulations and encouragement of performers to financial support. Various methods and modules exist for financial support of these organizations. Some of them include but not limited to the following
Through central government
This happens more specifically for organizations meant for public although the privately operated may at times be considered. The board may funds all organizations on a regular basis mostly if they register with an Arts Council in its region and lead officers allocated as their main point of contact. Many organizations have an existing relationship with their manager who understands the unique impact that each organisation can make. Basic controls have to be exercised to ensure the quality of output in these organizations. The board usually monitor for artistic quality, finance, management and public engagement. Each company that scored one of the following, meet the continued support credentials i.e. outstanding, strong and potential. In addition, monitoring for risk is mandatory. Risks measured as high, medium or low, under the headings of: governance and management, financial, operational, compliance, environmental, or overall risks (LANCASTER, 2010).
Most central government agencies have funding programs for voluntary groups like the performing arts with a national undertaking initiative of national importance. Grant programs are designed to fit the objective policies and program outcomes for each particular government department. Much of central government funding is provided through a wide range of agencies, or non-departmental general bodies. Departments also fund the voluntary sector through direct financial relationships with given organizations whose work is similar to their own interests. An example is when the Ministry of Justice finance Victim Support, on annual or regular basis.
However, the central government departments are not generally in the good terms with each other. The administration, design and quality of funding programs will vary between and within departments. In addition, these criteria change over the years to reflect changes in economic and government policy. However, some common aspects in the government funding can assist us to know what to expect. There are funding programs that open annually on a need-competitive basis with a preset deadline.