The article considers the main reforms in the field of state financing of cultural establishments, substantiates the necessity for overcoming the traditional image of the state as the main funding source for cultural establishments, proposes the efficient management models in cultural sphere .The present article can be of interest for top-managers of cultural establishments of different levels and sizes. Public-funded cultural establishments can consider sponsoring and fundraising as an additional source of financial resources for their activities. Other cultural establishments can fully realize their tasks on the basis of these funding sources only. Presently, sponsoring and fundraising are necessary not only for the potential beneficiaries, but also to the so-called “donors”.Most large organizations realize their social responsibility exactly through sponsoring and fundraising, mentioning this notion in their “mission”.