Financial Management in Museums considers sustainable and innovative solutions to current museum financial challenges by analyzing the many changes and pressures affecting the museum field. Presenting diverse perspectives from a range of authors around the world, the book shares and compares different funding models and methods of museum financial management. Arguing that museums need to be more effective in obtaining and managing financial resources, the volume also demonstrates how innovative and sustainable financial management strategies and structures can allow museums to respond to societal pressures and issues in a more effective way. It also demonstrates that museums must allocate resources responsibly to fulfill their goals of justice, equity, inclusion, and accessibility. The theoretical and practical contributions within the volume cover a comprehensive range of topics, including foundational concepts, revenue, expenses, budgeting, financial leadership, strategic planning, mission-based investment strategies and alternative revenue strategies. Financial Management in Museums focuses on the unique financial needs and structures of museums, while also considering important lessons from adjacent sectors. It will be essential reading for students and academics engaged in the study of museums, arts and cultural management and business. The book will also be useful to museum professionals working around the world.

A characteristic of all sustainable museums is long-term financial stability. In this book, we explore how to transparently and accurately account for the financial resources you have and then provide a template for fundraising more dollars to sustain your small museum. We address grant applications and legal issues as they pertain to financial management, human resources, and other topics in the Toolkit.

A characteristic of all sustainable museums is long-term financial stability. In this book, we explore how to transparently and accurately account for the financial resources you have and then provide a template for fundraising more dollars to sustain your small museum. We address grant applications and legal issues as they pertain to financial management, human resources, and other topics in the Toolkit.

The National Bureau of Economic Research organized a project to explore the economic issues facing the major art museums of the United States. For this purpose NBER defined economics broadly to include not only the financial situation of the museums but also the management and growth of museum collections, the museums' relationship with the public, and the role of the government in supporting art museums. This volume brings together nontechnical essays on these issues by economists associated with the NBER and personal statements by leaders of America's major national art museums and related foundations. It can be read not only by economists but also by museum officials and trustees. Museum directors generally come to their responsibilities with a background in art history and curatorial work but without experience in thinking about the management and public policy aspects of museum administration. Trustees who serve on museum boards generally have a background in business or law but have not previously tried to apply their experience to the unusual economic problems of museums. The background papers, the panelists' remarks, and the summary of the discussion will help them to approach their responsibilities with a better understanding of the problems and possibilities of the museum.

The first of its kind to offer a discussion of financial management particular to historic house museums, this book is a vital resource to preservationists, staff, volunteers, and board members of historic houses. A reference tool that is accessible in approach yet comprehensive in scope, this book takes you step by step through securing and managing a historic house museum for years to come. In straightforward language, utilizing case studies from historic house museums, and providing sample documents to get you started, Financial Fundamentals for Historic House Museums guides you on how to: Incorporate as a tax-exempt organization Find historic property designation options and successfully apply Understand contributed income opportunities and raise money Create sustainable earned income opportunities Understand basic accounting and financial planning to ensure the future of your historic house museum.