Sustainable Revenue for Museums

A Guide

Edited by Samantha Chmelik

Publication date:

23 August 2019

Length of book:

340 pages

Publisher

Rowman & Littlefield Publishers

ISBN-13: 9781538112984

BOOK DESCRIPTION
TABLE OF CONTENTS

Understanding revenue sources is vital for ensuring the long-term stability and sustainability of museums, historic sites, zoos, and botanic gardens. Sustainable Revenue for Museums delves into the strategies and tactics that museum professionals, funders, and experts use to generate and manage their revenue. Museum professionals of all experience levels will find immediately actionable revenue generation and management practices.

Sustainable Revenue for Museums begins with a compilation of the most recent industry-wide revenue data, with breakdowns by different revenue types, institution discipline, number of employees, and revenue type contribution to total insti

tutional revenue. The next five sections of the book are:

Passive Income
Contributed Income: Fundraising
Contributed Income: Grants
Earned Income: Museum Services
Earned Income: Retail Services

In each of these sections, more than 50 museum professionals, funders, and experts contribute to chapters focusing on specific revenue sources. Topics covered include:

Investment Income
Membership
Capital Campaigns & Major Gifts
Fundraising – Crowdfunding, Special Events, Partnerships, and Board Member Participation
Grants – Government, Private, Donor Advised Funds
Earned Income – Admissions, Programs & Education, Rights & Reproduction Licensing, Food Services, Facility Rentals, and the Museum Store

The book’s final section, The Future of Revenue, considers future business models and revenue generation strategies. A master list of the Resources used and recommended by the contributors closes the book.

Section I – Essential Background

Chapter One – Revenue Data

Chapter Two – Impact Factors: Overview and Roundtable

Section II – Passive Income

Chapter Three – Expert Opinion: Investment Management Valerie Newell

Chapter Four – The Uniform Prudent Management of Institutional Funds Act (UPMIFA) Susan N. Gary

Chapter Five – Creating a Capital Campaign for the Los Alamos Historical Society Heather McClenahan

Section III – Contributed Income: Fundraising

Chapter Six – Membership on Center Stage Between the Transactional and Philanthropic Suzette A. Sherman

Chapter Seven – The Value in Membership Cari Maslow

Chapter Eight – Simplicity, Flexibility, Loyalty, and Profitability: Revamping the Longwood Gardens Membership Program Nicole Krom, Nicholas D’Addezio, and Melissa Dietrich

Chapter Nine – Why Maintenance and Cultivation are Critical Beverly Sakauye

Chapter Ten – Expert Opinion: Board Members & Fundraising Tonya Matthews

Chapter Eleven – Expert Opinion: Fundraising & Special Events Gina Rogak

Chapter Twelve – Making the Case: Motivating Your Museum’s Major Gift Prospects Tim Ardillo

Chapter Thirteen – Major Gifts: Relationships Matter Julie McDearmon

Chapter Fourteen – Expert Opinion: Crowdfunding Projects at the National Museum of Nuclear Science and History Jennifer Hayden

Chapter Fifteen – Expert Opinion: Crowdfunding the Ida McKinley Tiara Acquisition for the McKinley Presidential Library & Museum Kimberly A. Kenney

Chapter Sixteen – Making Partnerships a Priority in Fundraising Margaret Walker

Chapter Seventeen – Donations and Fundraising: Management, Evaluation, and Metrics Allison Porter and Faith Brown Kerr

Chapter Eighteen – Lead and Learn: Resources for Success in Fundraising Management, Evaluation and Cultivation Kristin Bertrand and James G. Leventhal

Section IV – Contributed Income: Grants

Chapter Nineteen – Applying, Navigating and Managing Government Grants Holly Piper Lang

Chapter Twenty – State-level Grants and Grant Seeking Strategies for Your Museum Andrew J. Verhoff

Chapter Twenty-One – Perseverance and Success: the National Endowment for the Humanities Sustaining Cultural Heritage Collections Implementation Grant Zinia Willits

Chapter Twenty-Two – The YAA ArtHouse Story: A Practical Guide to Managing an IMLS Grant Marie Berlin

Chapter Twenty-Three – Demystifying Private Foundation Grants Lily Williams

Chapter Twenty-Four – Expert Opinion: Building Relationships with Private Foundations Gary Smith

Chapter Twenty-Five – The Greenwood Fund: Using a Donor Advised Fund to Support a Small Museum Alyssa Kopf and Kelly Purdy

Chapter Twenty-Six – Donor Advised Funds – Handle with Care Martin Levine

Section V – Earned Income: Museum Services

Chapter Twenty-Seven – Earned Income for Sustainability David Grabitske

Chapter Twenty-Eight – Roundtable: Programs and Education

Chapter Twenty-Nine – Museums and Intellectual Property: In Support of Good Museum Business Practices Rina Elster Pantalony

Chapter Thirty – The Sixth Floor Museum at Dealey Plaza: A Case Study of Rights and Reproductions Licensing Megan Bryant

Chapter Thirty-One – Harnessing Rights and Reproductions Licensing at the New Mexico Museum of Art Michelle Gallagher Roberts

Section VI – Earned Income: Retail Services

Chapter Thirty-Two – Food Services: Models and Metrics Tracy Lawler

Chapter Thirty-Three – The Opportunities in Facility Rentals Sara Kennedy

Chapter Thirty-Four – Museums and Event Rentals: A Balancing Act Rennae J. Healey and Sara Schultz

Chapter Thirty-Five – Establishing Roots to a Successful Museum Store Christa Dyer

Chapter Thirty-Six – Why a Museum Store? Blue Anderson

Chapter Thirty-Seven – Unique & Exceptional: Product Development for Museum Stores Michael Guajardo

Chapter Thirty-Eight – Expert Opinion: Redeveloping the Museum Store Jennifer Pittock

Chapter Thirty-Nine – Beyond the Bottom Line: The True Worth of Museum Stores Stuart Hata

Section VII – The Future of Revenue

Chapter Forty – Evolving the Business Model with a Comprehensive Earned Income Approach James Stevens

Chapter Forty-One – Envisioning Shared Authority as an Alternative Economic Model for Cultural Organizations Rachel Boyle