Financial Management in Museums considers sustainable and innovative solutions to current museum financial challenges by analyzing the many changes and pressures affecting the museum field. Presenting diverse perspectives from a range of authors around the world, the book shares and compares different funding models and methods of museum financial management. Arguing that museums need to be more effective in obtaining and managing financial resources, the volume also demonstrates how innovative and sustainable financial management strategies and structures can allow museums to respond to societal pressures and issues in a more effective way. It also demonstrates that museums must allocate resources responsibly to fulfill their goals of justice, equity, inclusion, and accessibility. The theoretical and practical contributions within the volume cover a comprehensive range of topics, including foundational concepts, revenue, expenses, budgeting, financial leadership, strategic planning, mission-based investment strategies and alternative revenue strategies. Financial Management in Museums focuses on the unique financial needs and structures of museums, while also considering important lessons from adjacent sectors. It will be essential reading for students and academics engaged in the study of museums, arts and cultural management and business. The book will also be useful to museum professionals working around the world.

A characteristic of all sustainable museums is long-term financial stability. In this book, we explore how to transparently and accurately account for the financial resources you have and then provide a template for fundraising more dollars to sustain your small museum. We address grant applications and legal issues as they pertain to financial management, human resources, and other topics in the Toolkit.

The first of its kind to offer a discussion of financial management particular to historic house museums, this book is a vital resource to preservationists, staff, volunteers, and board members of historic houses. A reference tool that is accessible in approach yet comprehensive in scope, this book takes you step by step through securing and managing a historic house museum for years to come. In straightforward language, utilizing case studies from historic house museums, and providing sample documents to get you started, Financial Fundamentals for Historic House Museums guides you on how to: Incorporate as a tax-exempt organization Find historic property designation options and successfully apply Understand contributed income opportunities and raise money Create sustainable earned income opportunities Understand basic accounting and financial planning to ensure the future of your historic house museum.

Budgets can generate lively discussions, advance institutional priorities, and create a roadmap for the future. If you find this hard to believe, then this book is for you. All museum professionals can benefit from a greater understanding of budgets and financial management. Beyond the Numbers helps to make budgeting more approachable and is designed for individuals without a background in financial management. While the book is about budgeting, it contains very few spreadsheets or dry templates. Instead, it focuses on larger issues such as your relationship to money, the dynamic ways budgets can serve museums, and how budgeting connects (and often doesn’t connect) to strategic planning. The writing style is easy and accessible, with a little humor along the way. The book will help you discover the connection between the museum work you love and the budget process that powers your institution’s priorities. Many of the most critical issues we face in the museum field, such as pay inequity, public accessibility, and a lack of funding, are related to budget management. By taking more responsibility and a greater interest in resource management, we all can play a larger role in the direction of our institutions and communities. If you’ve ever felt like you were on the outside looking in because you couldn’t follow a budget discussion or didn’t know how financial decisions were made, this book will give you the tools to begin to claim your seat at the table. It will provide concrete steps to increase your financial literacy and confidence with budget management.

A characteristic of all sustainable museums is long-term financial stability. In this book, we explore how to transparently and accurately account for the financial resources you have and then provide a template for fundraising more dollars to sustain your small museum. We address grant applications and legal issues as they pertain to financial management, human resources, and other topics in the Toolkit.

The current economic climate, coupled with an all embracing desire for museums to be respondent to 'the market' make a proper grounding in management essential. The 'bottom line' is one of the most powerful measures of management performance. Museums and galleries invariably have a neutral bottom line, they are not set up to make a profit and many of them are constrained by governmental accounting rules and charity legislation. Managing these organisations is difficult and this book tackles the issues that make it easier. Managing the Museum examines the highly sophisticated principles and techniques of modern business management from the perspective of museums and galleries and delineates their practical application. This volume surveys the day-to-day issues of time management, delegation and recruitment to the problems of strategic planning and initiating and controlling conflict and change. This study incorporates the needs of both the independent and national sectors and discusses the links between the museum and commerce.