Sustainable Revenue for Museums

Book excerpt: 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.