Spain/ 6. Financing of culture  

6.3 Trends and indicators for private cultural financing

Aside from household expenditure on cultural goods and services (see chapter 8.2.1) there are very few figures available on private-sector capital funding of culture. A study on contributions of the large Spanish companies shows that, in 2005, culture was the third recipient of sponsorship (after care and educational activities) (for details see:

An important and interesting phenomenon in Spain is that of the Cajas de Ahorro or savings banks, non-profit making financial institutions which have been involved in funding cultural activities for a long time. The significant legal reform of the savings banks held in 2010, which has affected all aspects of the activity of these entities, as well as the severe economic crisis, had a dramatic negative impact on social and cultural projects. According to 2013 figures, savings banks allocated 18.86% of the investment, i.e. 122.17 million EUR to cultural initiatives and heritage. This is a reduction of 49.74% with respect to the previous year, and of 87.15% with respect to 2008.

Agents have been requesting a new legal framework for the private funding of culture in Spain. This was also announced at the beginning of the legislature of the Popular Party that started in November 2011. However, there will not be a new regulation on patronage and sponsorship; the reforms will be introduced by means of changes in the fiscal benefits included in the fiscal reform of 2014 (see also chapter 5.1.5).

In recent years, some private and social platforms and initiatives of collective funding for cultural projects, such as La Tahona Cultural or Verkami, have emerged. Hispania Nostra, a private association aimed at heritage protection, has launched Todos a Una (a platform of "crowdfunding" devoted exclusively to projects related to the historic, cultural and natural heritage). In October 2014, the project of the Act for the Promotion of Enterprise Funding went to the Parliament with the aim of regulating crowdfunding platforms.

Chapter published: 24-06-2015