Philanthropy, Art and Society sets up, for the first time, the field of arts philanthropy in the UK, shedding light on the variety of ways in which individuals and organisations give their time and money to support the arts. Herrero and Reid evaluate the history of arts philanthropy, its legacy, and its significance in today's society. They explore the idea that giving to the arts is a form of behaviour influenced by its specific historical, socio-cultural and political context which can profoundly affect its recipients (organisations and individuals) as well as shape the very context in which these recipients operate. First, they investigate the socio-economic and cultural factors shaping philanthropy, historically and at present, from tax incentives and government policy to norms, values and laws. Second, they critically evaluate the social consequences and impact of philanthropy, asking such questions as: does philanthropy reinforce or mitigate social inequalities? what effects does it have on organisational cultures and structures of recipients? can philanthropy ensure the long-term sustainability of the arts sectors? The book's exploration of how philanthropy constitutes society shows that philanthropy is a phenomenon that leads to fundamental changes in the way we think about how to belong, and how we experience the world around us. This book will be of interest to students and scholars of sociology, politics, international relations, economics, anthropology, cultural policy, cultural studies, philanthropy and non-profit studies, entrepreneurial studies, business studies, management, and the non-profit sector.