The State as a Fundraiser? Evidence from the Newly Introduced Italian Cultural Heritage Reform

Crowdfunding could be regarded as one of the most disruptive innovations in the field of financing cultural organizations. But what happen when the cultural organizations are public entities and the promoter is the government itself? This paper analyzes the innovative management tool implemented by the Italian Government, under a new fiscal reform, to privately finance national heritage, and the implications for the managers of cultural organizations. The findings show that an appropriate legislative system, which favors and encourages patrons to donate to cultural organizations, could represent a valuable mechanism for increasing funding by private individuals and corporations. Consequently, there is also some evidence that cultural organizations should consider improving and innovating in their fundraising strategies.