In a detailed report sponsored by TEFAF (the European Fine Art Fair) and released in conjunction with its annual event in Maastricht, the Netherlands, last week, London-based research firm ArtTactic shows how the 21st century form of arts philanthropy—while not leaving legacy gifts behind—is beginning to shift toward “impact and engagement and making a difference,” says Anders Petterson, founder of ArtTactic and author of the report, titled TEFAF Art Market Report: Art Patronage in the 21st Century.

“Part of that is generational driven,” Petterson says. “There is a younger generation coming after us who are seeing art not only in terms of an object, or commodity, or something you need to own, but [who] also realize art has a broader impact on the society we live in.”

The research shows, however, there is no simple answer to the question of “what is art patronage” today. “The field is too nuanced and too complex to boil down to one finding or one number,” Petterson says.

Overall, the research aims to answer a few questions that haven’t been posed in such a comprehensive way before, specifically: What does art patronage mean? What motivates people to give to the arts? How do models of giving change from one region to another?, Petterson says.

Does it make sense, for example, to build a museum in a country in Africa, or would it be more practical to set up an organization that can provide small grants to local organizations. “That might be a more effective way of supporting the infrastructure in these regions,” he says.

Read the full article about arts philanthropy by Abby Schultz at Barron's.