Wednesday, July 23, 2008

Wine auctionís impact is lasting

If your business sees a bump in July it is due, in part, to the Wine Auction.

By Trina Peters and Sam Gappmayer

Throughout the year we receive numerous questions about the Sun Valley Center for the Arts Wine Auction—how much money we make, how we use it, and how much it costs to put on. So here it is: the Wine Auction by the numbers.

Gross Wine Auction-related income last year totaled $1,940,226. This included income from ticket sales, sponsorships, and the auction itself. Our expenses for the event were $712,543, for a net income of $1,227,683.

So what do we do each year with that income? Most importantly, the Center is able to offer 60 percent of our programs to the public free of charge. In the past year alone, these included:

after school art classes in Spanish and English serving 186 children.

free gallery tours for school groups that were attended by 2,042 kids.

performances and artist in residence programs in schools presented to 2,172 students.

free Family Days at the Center.

free admission for 13,498 people to the Arts and Crafts Festival and more.

In fact, every program that is ticketed is subsidized by the income made at the Wine Auction.

Even our large summer concerts are affected. Because of the success of the auction, we are not driven to make money on concessions at the concerts and can allow participants to bring their own food and beverages. We were able, in the past year, to provide 42 scholarships to allow students and teachers to pursue further study in an arts-related field. And, proceeds from the Wine Auction enabled us to construct a classroom in Hailey without raising additional funds from Center supporters.

The Wine Auction benefits our community in other ways as well. Last year, just over 80 percent of all Wine Auction expenses were paid to local vendors including caterers, security companies, party rentals, graphic designers and others. That's over a half a million dollars into the hands of local merchants and service providers as a direct result of the auction. In addition, 1,396 people attended at least one Wine Auction event last year. Forty-three percent of these came from outside of Sun Valley/Ketchum/Hailey.

Using economic impact multipliers developed as part of a national study titled Arts and Economic Prosperity, we can reasonably project that these attendees spent $316,420 on services ranging from fishing guides to souvenirs. Combined with the amount spent locally by the Sun Valley Center, this represents an infusion of $907,830 into the area's economy. This economic impact creates an additional indirect economic impact on the local economy as the money is respent until it 'leaks' out of the Valley. Using formulae developed by the economists that led the Arts and Economic Prosperity study, this total direct and indirect impact on our community because of the Wine Auction is $1,307,275.

Recognizing all the good things the Wine Auction makes possible, 225 community members volunteer their time each year to make this event happen.

If you have ever visited our gallery, attended a concert, visited the Arts and Crafts Festival, or taken a class at the Center, you have benefited from the Wine Auction. If your children have participated in a school arts program presented by the Center, it has been because of the auction. If your business sees a bump in July, it is due, in part, to the Wine Auction.

These benefits reach everyone from kindergartners to art collectors—all year long.

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