Looking at the economic forecasts for 2009 does not give one much optimism for the year ahead. Navigating this uncertainty is difficult, but we believe you should not have to weather this storm alone. Now more than ever, AAM is committed to providing the resources you need. We encourage you to use this as an opportunity to focus on your mission, engage your community in creative ways, and make your voice heard about why your museum matters. Together we can not only weather this economic storm, but emerge even stronger.
Don’t forget that AAM members have resources beyond those listed below. All members can log in to a wealth of knowledge in the Information Center. Staff at member museums can get personalized help and access to more than 1,000 sample documents by contacting the Information Center at infocenter@aam-us.org.
Seeing the Big Picture
Fundraising
Practical Tips & Ideas
Management Advice & Strategy
Downsizing & Retrenchment
Seeing the Big Picture
The Chronicle of Philanthropy issued a special report How Charities Cope With a Troubled Economy. It compiles articles on fundraising and management, survey results, and transcripts from live discussions.
The IRS offers guidance on maintaining public trust in nonprofits during the economic downturn. For its part, the IRS will be focusing on proper payment of employment taxes, unrelated business activity, and organizations with unusual fundraising levels & relatively low levels of program service expenditures. It encourages nonprofits to increase their transparency (using the 990 as a primary tool), to review & strengthen their governance practices, and to take a close look at their executive compensation packages & practices.
The National Council of Nonprofits provides the Nonprofit Economic Vitality Center. The website is structured in 3 sections. The first presents information about the economy and the nonprofit sector. The next section analyzes how the economic downturn is hurting different types of nonprofits (including the arts) and different geographic regions. The third section identifies various action steps that nonprofits can take and illustrates some of those options with examples of proven programs.
The NEA Research Roundtable has compiled a list of surveys and reports about impact of the recession on nonprofit arts groups, including museums.
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Fundraising
The Center on Philanthropy at Indiana University has compiled a special bulletin on the American Recovery and Reinvestment Act of 2009. It notes that nonprofits seeking funds through the Act will require a sense of urgency, engagement in an adept research strategy, and diligence in monitoring the grant process. The bulletin explains how nonprofits can apply for stimulus funding and provides links to numerous sites and resources to help speed the task.
Fieldstone Alliance offers a list of 20 emergency funding ideas. These are revenue sources that can be accessed quickly, usually within 30 days. Not all are available to every nonprofit and some carry risk, but the list may be useful and thought-provoking.
Network for Good shares Fundraising in Hard Times: Downturn Survival Guide. The guide features 12 strategies nonprofits can use to succeed during the recession.
Surviving the Funding Slump: Advice from a Grantmaker has 11 tips that emphasize the importance of developing a relationship with funders and staying focused on the mission.
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Practical Tips & Ideas
Coping with Cutbacks: The Nonprofit Guide to Success When Times Are Tight offers 185 cutback ideas. The checklist can spur creative thinking as you analyze your current situation and plan for the future.
WebMD offers 9 tips for staying healthy by managing anxiety and stress during these uncertain economic times.
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Management Advice & Strategy
The Bridgespan Group summarizes insights and advice from their clients, nonprofit leaders and experts in Managing in Tough Times: 7 Steps.
Wolf Brown’s senior consultants offer 4 perspectives, each a somewhat different approach to navigating troubled seas. They agree, however, that the next two years will require significant focus on planning, increased structural flexibility and capacity to adapt quickly, willingness to take risks and innovate, a new openness to collaborating, and a heightened responsiveness to community need.
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Downsizing & Retrenchment
The AAM Accreditation Commission’s Considerations for AAM Accredited Museums Facing Retrenchment or Downsizing recognizes these corrective actions can be necessary in response to financial reductions. The observations on how to take these actions responsibly can be useful for all museums.
Consolidated Credit Counseling Services offers Surviving a Layoff: Keeping it Together when You Lose a Job. The article offers financial, job search and coping strategies.
The Department of Labor has a job loss toolkit that provides information about protecting health care and retirement benefits.
The Minnesota Council of Nonprofits answers questions about reducing the organization's risk during employee layoffs.
Mothball Inventory is a checklist developed by the Historic Sites Division of the Minnesota Historical Society. It lists issues to consider when preparing to "mothball" a historic site — closing it for an estimated 5 years. The document also includes a bibliography.
Serving the American Public: Best Practices in Downsizing reports on a study conducted with public and private organizations that have experienced downsizing. The material is organized in 7 areas: leadership, communication, advance planning and preparation, external and internal information needs, strategic direction, implementation, and performance evaluation and reporting.
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