PHILADELPHIA (CBS) — The recession has hit the Philadelphia region pretty hard over the past year, and arts and cultural organizations are feeling the effects. But a new study shows that there is a silver lining.
The Philadelphia Arts and Cultural Alliance released a report on Friday that shows cultural organizations lost more than $500 million dollars in investment revenue from 2009 to present, which is a 43% decrease. Alliance President Tom Kaiden says the good news is that individuals have stepped up to keep arts and culture alive.
“Though you might have expected in a recession that they might have reduced their attendance, the opposite is true,” Kaiden says.
He says individuals pumped more than $400 million into Philadelphia’s nonprofit sector.
“We saw a really positive influence from individuals participating more, attending more, volunteering more and donating more.”
Kaiden says even with increases in individual giving it could take many years for some non-profits to recover.
Reported by Cherri Gregg, KYW Newsradio