By: Sarah Dyer, Baylor Business Fellows ‘17
Within the nonprofit sector, Arts and Culture receive about 4.5% of total gifts, about $13.7 billion a year. Unfortunately, the majority of this funding supports large arts organizations with budgets over $5 million, leaving small local arts nonprofits underfunded and under supported. Large arts organizations usually serve the upper class, but what about local arts programs and initiatives? Less than 10% of grant dollars for the arts benefit underserved communities, lower-income populations, and other disadvantaged groups. We have an opportunity to support these populations through this course.
This week we had the opportunity to meet with eight Waco nonprofit organizations that support local arts and culture. Each organization emphasized the importance of arts and culture in developing a thriving city, alleviating poverty, and generating economic development. With the recent developments in Waco because of the opening of McLane Stadium and Magnolia Market, the arts and culture organizations see an incredible opportunity to grow and strengthen the community of Waco.
As an artist myself, I have always known how impactful arts and culture can be in an individual’s life. Working in this course has opened my eyes to the influence arts and culture can have on a community as a whole. Moving forward, our team is excited to support Waco’s arts and culture organizations as they seek to bring our community together to thrive culturally, socially and economically.