Fundraising strategies for Italian cultural institutions post-COVID

The COVID-19 crisis has exposed long-standing issues in Italy's cultural sector, prompting a need for strategic fundraising. Franco Broccardi and Irene Sanesi propose two key innovations: expanding the Art Bonus tax credit to include more beneficiaries and creating a foundation to attract American donors. The Art Bonus currently applies to liberal donations for public cultural institutions, foundations, theaters, and festivals funded by the FUS (Fondo Unico per lo Spettacolo). However, many entities are excluded. The authors suggest a local Art Bonus (tax credit on IRAP) adopted by regions like Tuscany and Friuli-Venezia Giulia, and extending it to benefit corporations (società benefit) with cultural purposes. They envision a paradigm shift from occasional donations to statutory, ongoing corporate support. For international fundraising, they propose an Italo-American foundation in the US to channel donations to Italian institutions, including smaller ones, using a triangulation fee model. This would position Italian culture globally beyond tourism.