Setting the Stage
Restore the Woodward
Objectives: A Self Sustaining Project
Project Overview
Project Budget
The Economic Impact of Nonprofit Arts Organization and Their Audiences
The Economic Impact from Tourism Development
Case Studies on the Economic and Cultural Impact of Historic Theatres
Copyright ©
2008
The Woodward Development Corp.
TheWoodward.org is designed and maintained by Nubble Designs.
Economic Impact of the Woodward Restoration Project
The Economic Impact of Nonprofit Arts Organization and Their Audiences
| POPULATION of your community: | Less than 50,000 | |||||
| Organization's TOTAL EXPENSES: | $250,000 | |||||
| TOTAL ATTENDANCE to your organization's arts events: | 50,000 | |||||
| Total Expenditures: | FTE JOBS | Household Income | Local Gov't Revenue | State Gov't Revenue | TOTAL Gov't Revenue | |
| Annual Impact of Nonprofit Arts Organizations: | $250,000 | 7 | $173,313 | $7,800 | $12,353 | $20,153 |
| Annual Impact of Nonprofit Arts Audiences: | $1,160,500 | 39 | $588,965 | $52,304 | $72,311 | $124,615 |
| Annual Impact of Organizations and Audiences: | $1,410,500 | 46 | $762,278 | $60,104 | $84,664 | $144,768 |
| 54.04% | 7.88% | 11.11% | 18.99% | |||
| Total Expenditures: | The total dollars spent by your nonprofit arts organization and its audiences; event-related spending by arts audiences is estimated using the average dollars spent per person by arts event attendees in similarly populated communities. | |||||
| FTE Jobs: | The total number of full-time equivalent (FTE) jobs in your community that are supported by the expenditures made by your arts organization and/or its audiences. An FTE can be one full-time employee, two half-time employees, four employees who work quarter-time, etc. | |||||
| Household Income | The total dollars paid to community residents as a result of the expenditures made by your arts organization and/or its audiences. Household income includes salaries, wages, and proprietary income. | |||||
| Government Revenue: | The total dollars received by your local and state governments (e.g., license fees, taxes) as a result of the expenditures made by your arts organization and/or its audiences. | |||||
| Annual Impact of Organizations and Audiences: | $1,410,500 | 46 | $762,278 | $60,104 | $84,664 | $144,768 |
| Annual Impact from Tourism Development (See next page): | $299,350.00 | 0 | $161,778.04 | $23,603.11 | $33,247.93 | $56,841.04 |
| Total Anticipated ECONOMIC IMPACT (per year): | $1,709,850.00 | 46 | $924,056.04 | $83,707.11 | $117,911.93 | $201,619.04 |
| Source: See www.AmericansForTheArts.org and click on the Arts and Economic Prosperity calculator in the Arts Policy, Research and Information Center. | ||||||