Eight leading Irish arts organisations are aiming to raise €10 million in private funding over the next five years as part of a new Arts Council initiative. The pilot project is designed to place the organisations on a stronger financial footing and will mean people around the country will be able to experience more high quality performances, exhibitions, film screenings and other arts events.

The Arts Council's RAISE: Building Fundraising Capacity pilot initiative will provide one-to-one professional support to the eight selected organisations for two years through planning and implementing a tailored fundraising programme.

Income from fundraising by arts organisations in Ireland is less than 3 percent of total income. This is a much lower ratio than in other countries such as Britain or Australia, where arts organisations secure up to a third of their revenue from fundraising.

The arts organisations participating in the initial pilot are the Irish Film Institute, the Royal Hibernian Academy, Na Piobairi Uilleann, the Galway Arts Festival, the Model gallery in Sligo, the National Chamber Choir, Wexford Festival Opera and the Gate Theatre. As part of the selection process, all demonstrated that they have the ambition, potential and commitment to raise more than €250,000 per annum in private investment.

Read full information from the Arts Council

Read report in The Irish Times

Image: Macnas - 'This Thunderous Heart' at 2012 Galway Arts Festival