April 28, 2005 | Read Time: 1 minute
The fund-raising fortunes of many art museums improved alongside the U.S. economy last year, a new report says.
Nearly 50 percent of the 114 museums that provided data to the Association of Art Museum Directors brought in more money in 2004 than in 2003, and 30 percent reported no change in income. The rest of the museums saw donations decline.
In addition, 45 percent of respondents had increases in attendance.
For the first time since the association started collecting data four years ago, income rose in every category. Donations from individuals had the highest spike, a jump of 12 percent compared to 2003. Government grants rose 11 percent, while corporate grants increased by 6 percent and foundation grants rose 1 percent from the previous year.
Because of gains in the stock market and gifts from board members and other donors, 56 percent of the museums saw gifts to their endowments increase. Respondents reported an average of 33 board members.
The increase in museum attendance helped lead to a 7-percent jump in revenue from gift shops, restaurants, and other sources compared with 2003.
Gains in income enabled 29 percent of the museums to hire new staff members and add exhibition programs. In addition, 62 percent of museums are continuing expansion plans as scheduled.
Copies of the survey, “State of North America’s Art Museums Survey,” are available online at http://www.aamd.org, under the “Newsroom” heading.
