Financial Stability

Downsizing Our Museum in the Face of a Pandemic

By Elizabeth Merritt

According to the Alliance’s first COVID snapshot of museum operations, conducted this past summer, one-third of US museums expected to lose over 40 percent of their annual operating income this year. Forty one percent anticipate having to …
Lessons Learned from SARS (and Strikes) at the Ontario Science Center

By Elizabeth Merritt

Often the best way to foresee the future is to revisit the past. In March, professor Marjorie Schwarzer offered an overview of how US museums responded to three pandemics in the 20th century. Today on the blog, Jennifer Martin, Julie …
In Times Like These: Managing Museums Through Crises

By Christy S. Coleman

On March 23, I sent out a tweet thread to encourage museum peers during the COVID-19 pandemic. Little did I know those simple tweets would resonate with so many. I wrote: Having led museums during significant national crises (9/11, Great …
Tips for Fundraisers

By Amy Rogers Nazarov

In the unforgiving economic environment in which museum fundraising staff find themselves these days, it can be tempting to throw in the towel and wait until conditions improve—and whenever that will happen is another matter entirely. But …
Strategies for Short-term Financial Survival

By Elizabeth Merritt

Support Free COVID-19 Resources for the Field: The current crisis is taking a distressing financial toll on cultural organizations, and AAM is no different. The Center for the Future of Museums is supported by AAM membership and …
TrendsWatch: Building Financial Resilience in a Time of Crisis

By Elizabeth Merritt

Here at the Alliance, we know that COVID-19 is inflicting severe damage on museums. Our sector is just beginning to assess the impact of closures, travel bans, cancellation of major events (including fundraisers), and the implementation of …
American Alliance of Museums Urges US Congress to Include $4 Billion for Nonprofit Museums in COVID-19 Economic Relief Legislation

By American Alliance of Museums

For Immediate Release March 19, 2020 Arlington, VA-The American Alliance of Museums (AAM), the only organization representing the entire scope of the museum community, urges the U.S. Congress to include at least $4 billion for nonprofit …
Toxic Philanthropy

By Elizabeth Merritt

We live in a time in which the public is hyper sensitive to the ethics of where money comes from, and where it goes. As I observed in TrendsWatch 2015, nonprofits don’t get a free pass in this era of soul-searching. Now the ethical …
Investing in the Creative Economy for Good and Profit

By Laura Callanan

When it comes to managing their endowments, museums typically focus solely on financial return. This is a missed opportunity to advance their mission-related work. Some avoid investing in sectors (tobacco, extractive energy) at odds with …
Financial Sustainability Is Everyone’s Responsibility

By Laura Lott

Prepared Remarks of Laura L. Lott President & CEO of the American Alliance of Museums Opening General Session of the 2019 Annual Meeting & MuseumExpo May 20, 2019 Good morning and welcome to the 2019 AAM Annual Meeting, the largest …