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In this chapter, the authors discuss the fundraising and funding patterns and their potential relationship(s) with the of management professionalization in independent arts organizations. It is proposed that the source of income and the fundraising activities can be associated with a clear pattern of managerial professionalization, as well as organizational directions. The empirical research is based on a sample of independent arts organizations from Croatia and Serbia. The Croatian organizations are now able to benefit from the EU structural funds and other sources of EU-based financing, while the Serbian organizations are in the very early stage of accessing the pre-accession EU financing and still rely on the more traditional sources of funding. The research methodology is comparative and qualitative, since this chapter is supposed to open a new venue of research in the South East European (SEE) region. It is based on comprehensive, in-depth interviews with the widely recognized actors of the independent and public arts scene in major urban areas in Croatia and Serbia.

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