Diversifying Revenue Streams in the Arts Impact Space

Sing for Hope is a nonprofit organization dedicated to harnessing the performing arts to transform lives. Each year, the Pianos Festival acts as a throughline for their programming in public spaces, schools, and hospitals, placing artist-designed pianos throughout NYC’s parks and public spaces for anyone and everyone to play. The Capstone team was tasked with helping the organization become more financially resilient by diversifying its revenue streams and decreasing its dependency on conventional fundraising methods. The team focused on leveraging the signature pianos program as an emblem of Sing for Hope’s organizational identity and visibility. They conducted a competitive landscape analysis as a means of distilling the organization’s unique value proposition among peer nonprofits to influence Sing for Hope’s communications with external stakeholders. Additionally, the team evaluated existing fee-for-service models and identified revenue-maximizing strategies. The project culminated in a final presentation and report summarizing the team’s insights and recommendations for a financial path forward.