Our latest ABA Executive Benchmark explored the overall financial health of arts and cultural organizations as well as budgets and operating costs for the most recently completed fiscal year compared to the year before, and projection for 2025.
Highlights from the survey include:
Operating budgets for 2024 represented an overall increased compared to 2023.
Artistic, Technical/Production/Facilities and Marketing Departments saw the greatest increase in terms of budgets allocated in 2024 compared to 2023.
For 2025, almost half of survey respondents expect 26-50% of their operating budget to be covered by contributed income. Similarly, around 42% of survey respondents expect 26-50% of their operating budget to be covered by earned income.
Most organizations either expect no operating deficit or a deficit of under 15% for 2025.
Over half of survey respondents reported balancing costs with revenues to have been more challenging in 2024 than in 2023.
Most organizations will expand grant applications and fundraising efforts to ensure financial sustainability in 2025.
The increased cost of living and compensation were among the top financial challenges for arts organizations in 2024. In the longterm, organizations are most concerned about sustaining revenue levels while managing expenses.
