There are some very good data sources, but we need more. First, let me distinguish between financial data and financial benchmarks. Data are regularly reported numbers, typically entered annually by museums into online portals maintained by others. Benchmarks are mathematical calculations using data that result in averages, medians and ratios. Benchmarks involve writing formulas, and so are open to rhetoric and spin; to avoid this, benchmarks should be standardized among peer museums, and this means data definitions must also be standardized.
Three organizations, in addition to AAMD, who keep their data secret, have more accessible, standardized data: Association of Science-Technology Centers (ASTC), the Association of Children's Museums (ACM), and the Cultural Data Project (CDP). The American alliance of Museums (AAM) has an online portal with excellent data collection questions, but have not recently published results. ACM has defined shared benchmarks through an IMLS grant (our White Oak Institute developed the benchmarks), and I encourage you to explore those benchmarks and the data that feeds them.
These organizations set their own definition standards, and so there are non-alignments. The CDP is the most rigorous, using accounting definitions and demanding data from audited financial statements. But their sample size is limited to certain states and to grant-seeking cultural organizations, including museums.
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John Jacobsen
CEO
White Oak Institute
Marblehead MA
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Original Message:
Sent: 03-17-2015 08:07 PM
From: Sandra Weingart
Subject: Financial Benchmarks for Museums
Hello. I am looking for financial benchmarks for museums. I have something from AAMD, but I am looking for benchmarks beyond art museums only. I see that AAM published this type of thing but the last I can seem to find is 2009. Does anyone know where I can find more up to date Financial Benchmarks (e.g, % earned revenue by budget size, etc)?
Thanks!
Sandra