1. Public Sector Funding at Tate

2. Introduction Tate and its mission Structure and governance Funding overview Public Sector Fundraising Some publicly funded projects The future

3. Tate and its mission A family of 4 galleries: London, St Ives and Liverpool Mission: to increase public knowledge, understanding and enjoyment of art Tate is a public institution owned by, and existing for, the public In 2014/15 Tate received 7.9 million visits, the highest number in a single year. This was Tate Modern’s busiest ever year with 5.7 million visits.

4. Structure and governance Tate is a Non-Departmental Public Body (NDPB), funded in part by the Department for Culture, Media and Sport (DCMS) Tate is an exempt charity with full charitable status Tate is governed by a Board of Trustees

6. These successes have been achieved against the backdrop of declining Grant-in-Aid. Since 2010, the funding that Tate receives has been reduced by thirty per cent in real terms. This means that Tate has consistently to look for new ways to generate income. This year has seen the largest ever increase in the number of Tate Members. Tate Enterprises achieved a record year with a turnover of £17.7 million. Sponsorship and support, from both private and corporate sources, has continued to be generous. The Trustees are enormously grateful for all the capital and operating gifts, sponsorship and other financial support. In spite of all this support, the pressures remain acute. Tate has delivered, and done so with efficiency, but Grant-in-Aid is the foundation on which further income is secured. Further cuts will need to be replaced by funds from private sources so as to avoid a reduction in the service that Tate can provide.

7. Total income Capital £52.4m Operating £91.7m Collections£77.4m Total £221.5m Grant-in-Aid from Parliament, provided through the Department for Culture, Media and Sport, is the bedrock for Tate’s funding. It is the platform from which other forms of income are generated. However, Tate – like all museums and galleries in the UK – has seen a continued decline in public subsidy that is likely to continue in the coming period. Maintaining performance in such circumstances is a challenge, but Tate is grateful for the continued generosity of its supporters and audiences and works throughout the year to generate revenues for itself.

8. Operating expenditure Charitable activities: public programming £37.3m Trading costs £25.9m Charitable activities: support costs £16.6m Other costs for generating funds £4.1m Costs of generating voluntary income £2.6m Other costs £1.0m Governance costs £0.7m Investment management costs £0.02m Total£88.2m

9. Operating income Self-generated incomeGrant-in-AidTotal 2012/13£31.5m£56.4m£87.9m 2013/14£30.4m£53.2m£83.6m 2014/15£29.6m£62.1m£91.7m

10. Capital additions Works of art Works of artOther fixed Total purchaseddonatedassets 2012/13£5.7m£18.5m£50.1m£74.3m 2013/14£29.3m£4.3m£60.5m£94.1m 2014/15£4.2m£72.7m£47.4m£124.3m

11. Public Sector Fundraising UK Government Departments Non-departmental public bodies Regional and local government National Lottery European Commission Non-public bodies that distribute research grants

12. Some publicly funded projects The Tate Movie Project - £3m Big & Small - £480,000 Skills for the future - Anoxic framing - Acquisitions -

13. The future 2015 Vision Capital projects Comprehensive Spending Review 2010

14. 2010 Spending Review A spending review for the years 2011/12 through to 2014/15 was announced by the coalition government. This review was driven by a desire to reduce government spending in order to cut the budget deficit. Chancellor of the Exchequer George Osborne announced the details of the spending review on 20 October 2010. The cuts have been described as the biggest since World War II. The review will lead to an £81 billion cut in public spending in the remaining four years of the parliament, with average departmental cuts of 19%.

15. Nick Serota, The Guardian, Oct 2010 ‘A Blitzkrieg on the Arts’ With the ruthlessness of a blitzkrieg the coalition is threatening the stability of an entire system for cultural provision that has been built up by successive Conservative and Labour governments: a mixed economy of public and private support that has made Britain a civilised place to live, where all have an opportunity to enjoy the arts or celebrate our heritage, and have been doing so in increasing numbers

16. HERZOG & DE MEURON 263_Tate-Modern-2/18.07.2008/Public-Launch

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18. Further information About Tate: governance & annual accounts http://www.tate.org.uk/about/