What is cultural patronage?
This is a donation in cash or kind (e.g. skills, services, technologies) to benefit the recipient organization and works of general interest. The donor does not expect any direct financial result for its patronage, but gains in terms of image, one that is more receptive, civic-minded, and supportive.
Businesses that make a donation to the Directors’ Fortnight can benefit from tax reductions worth up to 60% of the amount of the donation. The reduction is set against company tax or income tax.
An initial donation of 30,000 € becomes, effectively, a 12000 € donation after tax deduction of 18,000 € (i.e. 60% of 30,000 €). An initial donation of 5,000 € becomes an effective donation of 2,000 €, after tax deduction.
The donor business can associate its name with that of the Directors’ Fortnight and benefit from contractual contra-deals up to 25% of the amount donated.