May 1, 2003 | Read Time: 2 minutes
Many art museums saw their revenue decline as a result of last year’s tough economic climate, a new report says.
Seventy-four of the 128 museums that provided data to the Association of Art Museum Directors brought in less money in 2002 than in 2001 — another year marked by a downturn in revenue, mostly as a result of the September 11 terrorist attacks. This is only the second year that the association has reported on its members’ revenue levels.
Because of declines in the stock market, 99 of the museums saw their endowment income fall in 2002. Almost half of them, or 61, saw a decrease in government support; 57 experienced a fall in earned income from gift shops, mail-order catalogs, restaurants, and other sources; and 52 saw a drop in corporate dollars. Revenue from foundations and individuals was less affected by the economy: More than half of the respondents reported stable or increased support from those sources.
At the same time, many museums managed to maintain, or even to beef up, their programming, with the majority reporting steady or expanded programming and strong attendance.
Even with the slump in revenue, museums said they did not lay off staff members, and some increased their employee ranks. Ninety-three of the respondents said there was either no change or an increase in the number of employees last year. Another sign that they weren’t deterred by declines in revenue: Of the 91 that have been planning building expansions, 87 are moving forward while only 4 are deferring them indefinitely.
Copies of the survey are available from Resnicow Schroeder Associates, which is disseminating the survey, by going to the company’s Web site at http://www.resnicowschroeder.com or by writing to the company at 1995 Broadway, 11th Floor, New York, N.Y. 10023. They are also available on the association’s Web site at http://www.aamd.org.
