Creative Scotland announces investment portfolio overhaul
Creative Scotland has announced the results of a review into its investment portfolio, which will see nearly 50 arts organisations lose out on regular funding support from April 2013.
The agency has overhauled its portfolio as a result of changes in the way it receives income, with its share of Lottery revenue to rise from £18m in 2010 to £32.3m in 2014.
A review of Creative Scotland's model of investment has taken place in recent months, with a two-year funding approach to its flexibly-funded organisations to be withdrawn.
Creative Scotland's portfolio will now comprise 44 foundation organisations and 22 annual service level agreements, as well as 49 projects to be supported on a project-by-project basis.
The agency said it will also continue to develop new nationwide initiatives in youth arts and national events including the Year of Creative Scotland.
Details: www.creativescotland.com
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