The net income -loss- of the Marshant Museum of Art and History was pretty low between 2002 and 2004.
These three consecutive years of losses followed seven consecutive years of either breakeven or profitable status. That’s why, in the early 2005, Ashley Mercer, Director of Development and Community Affairs, and Donald Pate, Director of Finance and Administration, of the Marshant Museum of Art and History, discussed what had transpired at a meeting the previous afternoon. Mercer and Pate were assigned responsibility for making recommendations that would reverse the situation.The Marshant Museum of Art and History (MMAH) is founded in1925.
It is a non-profit corporation located in Universal City, western United States. MMAH was in the beginning contracted as the Fannel County Museum of Fine Arts and funded by an annual appropriation from Fannel County. The name was changed to the Jonathan A. Marshant Museum of Art and History in order to reorganize the museum’s major benefactor, Jonathan A.
Marshant, in 2000. He had provided the museum with a sizable donation.According to the terms of a $25 million gift given to the museum upon his death, the museum’s charter was revised and its name changed. Its purpose was “to provide an inviting setting for the appreciation of art in its historical and cultural contexts for the benefit of this and successive generations of Fannel County citizens and visitors” .
According to Randall Brent III, the Museum Director, this charter is different from the other museums, it gives both and opportunity and s challenge. He thinks that the museum offers a unique perspective both art and history as an opportunity, also as an challenge he says that a person can only truly appreciate what the museum has there if the person is willing to become historically literate.MMAH has over 15,000 works of art in its permanent collection that includes pre-Colombian, African, and Depression-era art, as well as European and American decorative arts.The company’s net income (loss) is about $- 383,000 (2004), $-183,000 (2003), $- 226,000 (2002).
These three consecutive years of losses followed seven consecutive years of either breakeven or profitable status. Finally, several observations and projections were made that indicated that the museum’s financial condition needed attention:* The appropriation from Fannel County would decline and whereas the county appropriated about $2 million annually to the MMAH, the museum could expect no more than $1.6 million in county appropriations in 2005 and for the foreseeable future.* Low interest rates in 2003 and 2004 indicated that earnings from the MMAH donations and investments would remain flat or decline.
* Membership revenues were down for the fifth consecutive year. Membership represented the single largest source of revenue for the museum.* Income from assisting activities continued to show a positive contribution to museum operations.They needed to try enhancing the image of the museum, increasing museum visitations, and building museum memberships.
Ashley Mercer, the director of Development and Community Affairs, was responsible for marketing at the MMAH.By enhancing museum image, increasing museum visitations and building museum membership, they tried to reorganize the financial situation of MMAH.The MMAH continually promotes its special exhibitions and activities by sending out press releases, and it maintains a close relationship with the local media. Next, it has many programs directed toward educating the public programs such as adult tours, school tours, lectures, and art films.
Then, public service announcements written by the museum are aired on local radio stations to promote special exhibitions. Also, membership categories, benefits, and costs were revised and membership benefits such as free limited parking, monthly calendar, personal tours of exhibition areas, and unique travel opportunities by membership categories were reorganized.