Museum Finance: Issues, Challenges, and Successes (Hardcover)
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Author Brian Alexander examines news stories about museum financial triumphs and challenges to highlight varying levels of financial success or distress that are remarkably similar. The size, discipline or location of the museum did not seem to matter, nor did the amount of budgets. It was the nature of the problems that fell into predictable patterns. Each story reveals an important, instructional window into the financial realities faced by today's museums. The stories are familiar ones: the struggle to be financially sustainable, the search for new revenue streams, limited oversight and checks and balances, unfounded optimism over revenue projections and lack of engagement in financial matters. These were balanced with decisive museum leadership, trustee solidarity, institutional courage, creative entrepreneurship and effective planning. Museum Finance: Issues, Challenges, and Successes looks at why museum finance is inherently challenging and how difficult it is to balance the need to generate adequate funding while providing accessible, meaningful mission-based services. The book's purpose is to help museum leaders at all levels recognize and avoid certain financial minefields and realize that while there are financial hurdles in the museum world, they are solvable. The book is filled with numerous examples illustrating the range of challenges faced by museums and how institution have met these challenges along with advice on how institutions can be successful in the face of financial difficulty.
About the Author
Brian Alexander has worked in museums for over forty years. Among other positions he has been the President & CEO of the National World War I Museum, President & CEO of the Historic Annapolis Foundation, Executive Vice-President & Director of the Shelburne Museum and Director of the museum program for the State Historical Society of North Dakota. Currently he is Visiting Professor of Museum Administration at the Cooperstown Graduate Program of the State University of New York.