Denaro … vil Denaro! When Sparafucile Would Not Gain, Whoever the Dead!

Abstract

Independent foundations are grant-makers whose aim is to engage citizens and communities and develop and improve their quality of life according to the vision of the founder. The founder can be an individual, a family, a patron whose legacy is matched with needs of a community and a territory… when alive and/or when dead. The founder can be an artist and the artist, as philanthropist, is a very recent topic and issue in the economics of American foundations and not-for-profit organizations (Aspen Institute, 2018). Though a small portion of all US foundations, these endowments are growing in number and grant-making and they represent a potential force shaping cultural philanthropy, old and contemporary art heritage, creative industries and education. With a strong advocacy for community betterment, they can be both operating and grant-making. The aim of this paper is to highlight the role of American artist-endowed foundations, trusts and associations in contemporary times, both of them supporting community development and, foremost, culture: from education to heritage, from visual arts to performing ones and above all, music education. The methodology includes the analysis of mission statements, Web sites and 990 Forms, and a cluster analysis of 2016s accounting data of a sample of the biggest USA artists-endowed foundations. Thanks to cluster analysis, economic performances, fundraising and fund-giving are highlighted together with a ‘concentration ratio’ for their being involved either in the education of specific arts (music, visual, performing, etc.) or in arts next to community welfare and other not-for-profit issues.