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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 /> TABLE'7t <br /> Ratios of Economic Impact Per 5100,000-of Direct Spending by Nonprofit Arts and Cultural Organizations <br /> in Indian River County <br /> Median of - - -- -- <br /> Similar Study Regions <br /> Indian River County Pop.=100,000 to 249,999 National Median <br /> • <br /> Full-Time Equivalent Jobs 2.94 4.13 3.52 <br /> Resident Household Income S59,105 $74,554 $74,554 <br /> Local Government Revenue 54,969 $3,820 $3,563 <br /> State Government Revenue S8,290 $4,155 $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 /> Arte X-Economic Prosperity 5 I Americans for the Arts 15 <br /> PI-21 <br />