Philanthropy continues to make up for funding shortfall in America's museums: survey
by Tom Anstey | 11 Jan 2016
Expenses per visitor, which stood at US$55.25, were significantly more than spend per visitor, which averaged US$8.02 / Shutterstock.com
Philanthropy continues to play a major part in America’s museums, with endowments accounting for more than a fifth of total income, according to the second edition of new annual survey released by the Association of Art Museum Directors (AAMD).
The 2014 debut edition of Art Museums by the Numbers suggested that venues are having to seek ever more diverse funding streams to stay in the green, with shortfalls made up mainly through endowment payments.
This year’s edition tells a similar story, with endowment making up 21 per cent of art museum income, also backed by a diverse range of revenue streams including individual and family contributions (10 per cent), foundation and trusts (8 per cent) and federal government (6 per cent). The survey also points to the importance of museum stores, which were a higher earner than admissions (6 per cent) with 8 per cent of total income coming from in-house retail.
More than 61 million people visited US museums in 2015, with 33 per cent of those offered free entry. 60 per cent of museums charge an entry fee, while 6 per cent asked for a suggested donation.
The importance of philanthropy to art institutions was highlighted by art museum expenses per visitor, which stands at US$55.25 (€50.73, £37.92) – significantly more than spend per visitor, which averaged US$8.02 (€7.36, £5.50).
AAMD – which represents 236 art museums in North America – says it has identified the need to improve data collection, create better benchmarking tools and better inform outside audiences of the impact of art museums. As AAMD continues to release Art Museums By the Numbers on an annual basis, longitudinal data will build over time, according to the body.
To read the full report, click here.
Philanthropy Association of Art Museum Directors Art Museums By the Numbers
Philanthropy continues to play a major part in America’s museums, with endowments accounting for more than a fifth of total income, according to the second edition of new annual survey released by the Association of Art Museum Directors (AAMD). The 2014 debut edition of Art Museums by the Numbers suggested that venues are having to seek ever more diverse funding streams to stay in the green, with shortfalls made up
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