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The Arts & Economic Prosperity 5 Calculator <br />To make it easier to compare the economic impacts of different organizations within Indian River County (or to <br />calculate updated estimates in the immediate years ahead), the project researchers calculated the economic impact <br />per $100,000 of direct spending by nonprofit arts and cultural organizations and their audiences. <br />Economic Impact Per $100,000 of Direct Spending by ORGANIZATIONS <br />For every $100,000 in direct spending by a nonprofit arts and cultural organization in Indian River County, there <br />was the following total economic impact. <br />Full -Time Equivalent Jobs 2.94 <br />4.13 <br />3.52 <br />Resident Household Income 559,105 <br />$74,554 <br />$74,554 <br />Local Government Revenue 54,969 <br />$3,820 <br />$3,563 <br />State Government Revenue 58,290 <br />$4,155 <br />$4,891 <br />An Example of How to Use the Organizational Spending Calculator Table (above): <br />An administrator from a nonprofit arts and cultural organization that has total expenditures of $250,000 wants to <br />determine the organization's total economic impact on full-time equivalent (FTE) employment in Indian River <br />County. The administrator would: <br />1. Determine the amount spent by the nonprofit arts and cultural organization; <br />2. Divide the total expenditure by 100,000; and <br />3. Multiply that figure by the FTE employment ratio per $100,000 for Indian River County. <br />Thus, $250,000 divided by 100,000 equals 2.5; 2.5 times 2.94 (from the top row of data on Table 1 above) equals <br />a total of 7.4 full-time equivalent jobs supported (both directly and indirectly) within Indian River County by that <br />nonprofit arts and cultural organization. Using the same procedure, the estimate can be calculated for resident <br />household income as well as for local and state government revenue. <br />Artc d- l conomic l'ro.vperity 5 I Americans for the Arts 15 <br />-21 <br />