Big N.Y. Arts Groups Cultivate Globetrotting Foreign Donors
December 1, 2014 | Read Time: 1 minute
Major New York City arts institutions are increasingly cultivating wealthy potential patrons abroad, writes The Wall Street Journal. The New York Philharmonic’s recent launch of a 12-member international advisory board, which includes members from Brazil, China, Germany, and the Philippines, follows similar moves by the Metropolitan Opera, American Ballet Theatre, and the Solomon R. Guggenheim Museum.
The overseas push flips a philanthropic tradition that has long seen foreign arts groups establish U.S.-registered nonprofits to raise funds in America. As donors abroad typically do not receive tax breaks for gifts to U.S. charities, the New York organizations base their pitch on providing access to events, business and philanthropic leaders, and the city’s social whirl.
