Advancing arts philanthropy practices for well‐being

Abstract

AbstractIndividual and collective well‐being is a global priority. Arts philanthropy can play a significant role in enhancing well‐being, both due to the direct impact of the arts on well‐being and the contribution of philanthropy to the well‐being of both donors and recipients. Despite this widely held belief, the current state of arts philanthropy highlights the need for advancements in its practices for the benefit of both givers and receivers. Through a review of previous studies, we propose a conceptual model to support the success of arts philanthropy by addressing four key elements: who, what, how, and why. Arts philanthropic practices should: (1) Identify the involved stakeholders and their interests within the context of multi‐sided markets; (2) Design and execute engaging cultural experiences as part of their offerings; (3) Incorporate the four ethical principles—namely, “Do no harm,” “Do as much good as possible,” “Respect people's autonomy,” and “Treat people with fairness”—into their decision‐making processes; (4) Utilize valid and reliable measures of well‐being.