Dozens of arts organisations have fallen dramatically short of their fundraising targets on the first national crowdfunding day for the arts.

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More than 300 artists and organisations participated in AusArt Day on Thursday, run by Creative Australia.

At least $1 million has been raised so far, with 2000 first-time arts donors participating in the event, according to the federal funding body.

Two-thirds of participants have yet to report their results.

"We're deeply grateful for the generosity Australians have shown in getting behind this new national movement," it said in a statement.

"For many participants, this was their first time fund

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