Metropolitan Museum of Art - Case Study Essay

Words: 4643
Pages: 19
Open Document
Executive Summary

The New York Metropolitan Museum of the Art is a non-profit institution with an established history as a behemoth of the artistic world. It was founded and maintains today the mission of “establishing and maintaining in the city of New York a museum and library of art, of encouraging and developing, the study of the fine arts, and the application of arts to manufacturing and practical life, of advancing the general knowledge of kindred subjects, and, to that end, of furnishing popular instruction.” Although the museum has run a deficit in the past two years, faces the prospect of rising operating expenses and lacks consistent strategy in its initiatives, it has strong fundamentals which include a membership base of …show more content…
Financial Structure – The Met faced serious budgetary deficits of $2 million and $2.6 million for the years 1990 and 1991 respectively, with future deficits expected. This is due to a greater increase in total expenses than in revenue. Specifically, we can see (Exhibit A) that the increase in auxiliary expense is generally higher than the increase in auxiliary revenue in the past four years. Profit remains positive, but it is rapidly decreasing (Exhibit B shows a shrinking profit margin from auxiliary activities). Furthermore, auxiliary activities account for about 50% of total revenue and expenses. The most important source of the deficit problem, however, is operations. We can see a trend of persistent deficits in revenue from operations, in the past four years (Exhibit C), and significantly larger deficits of the two most recent years. This greatly contributed to the losses in 1990 and 1991. The operational revenue on average accounts for 17% of total revenue, whereas the operating expenses constitute roughly 50% of total expenses. The remaining 33% of revenue comes from external funding from government and corporations.

Exhibit A: Revenue and Expense Growth Analysis
*dark cells represent expense growth greater than revenue growth
Show More

Related Documents: Metropolitan Museum of Art - Case Study Essay

Triumph Of Baroque In Naples Essay

emerged and triumphed with a style known for its dynamism and dramatic effect, successfully evoking emotional states by appealing to the senses. Most accounts of the development of the arts during this period largely focus on Rome as it was then imperative for all artists to submerge themselves in the studies of classical arts in Rome. Indeed, influences of important Renaissance masters such as Michelangelo Buonarroti and Raphaelo Sanzio da Urbino are deeply rooted in Rome and provided significant inspiration…

Words 5059 - Pages 21

Dissertation Photography Topic Essay

Is it ethical, moral or acceptable to manipulate images? Is their any truth in photography at all ? Is manipulation of horrific images their to keep us safe from the shocking truth ? Possitive reasons why manipulated photos are acceptable, ie art Identify the problem: Design usually involves addressing problems. If your topic is not problematic, it probably isn’t worth doing. Problems are often identified by the existence of a controversy. EG “Is the success of David Carson due mainly to…

Words 1133 - Pages 5

Research Paper About 1660 Rembrandt' Self Portrait

year of his death in 1669, he created an autobiography in art that is the equal of the finest ever produced in literature even of the intimately analytical Confessions of St. Augustine.1 Rembrandt Harmenszoon van Rijn (15 July 1606– 4 October 1669) was a Dutch painter and etcher. He is generally considered one of the greatest painters and printmakers in European art history and the most important in Dutch history. His contributions to art came in a period that historians call the Dutch Golden Age…

Words 1964 - Pages 8

Social Or Political Relations In Material Culture

describing how social or political relations are expressed in material culture, using as a case study a wonderful thing by my choice. I have inspired myself in a piece found when browsing the Metropolitan Museum of Art. The object is a particular Assyrian Relief that covers one of the walls of the Throne Room of the King Ashurnasirpal II’s Northwest Palace at Nimrud, northern Iraq. The relief being brought up in study is one of the many carved along the walls of the Nimrud Palace. It is a symbolic scene…

Words 1937 - Pages 8

Essay on Immigration impacts Australia all colour copy

Australia? ✈ Produced by Ryebuck Media for the National Museum of Australia Exploring the story of immigration in the National Museum of Australia’s Horizons Gallery What impacts has immigration had on Australia? The National Museum of Australia and the Horizons Gallery Written by Robert Lewis Tim Gurry David Arnold Hot-air cabinet used in experiments at the Australian Institute of Tropical Medicine in Townsville in use 1919. National Museum of Australia. ISBN 0-949380-34-2 ©2001 National Phone…

Words 6654 - Pages 27

Essay about Commercial Market Study

This is the html version of the file http://www.cityofmadison.com/planning/gpgfinal.pdf. Google automatically generates html versions of documents as we crawl the web. Page 1 State Street Corridor Madison, Wisconsin Commercial Market Study Prepared for: JJR/Inc. 1 N. Pinckney Street Madison, Wisconsin Prepared by: GIBBS PLANNING GROUP, INC. 240 Martin Street Birmingham, Michigan 22 April 1999 Page 2 Table of Contents State Street Corridor Madison, Wisconsin Introduction Executive Summary…

Words 9624 - Pages 39

From Ysl to Saint Laurent Paris Essay

From Yves Saint Laurent to Saint Laurent Paris Abstract The aim of this essay is to take part in a discussion about the interrelation of fashion, marketing and art. Focusing on the Yves Saint Laurent brand and its creative work, the essay attempts to explore the marketing strategy, sources of inspiration and communication system. The first chapter is about the brand’s heritage and its image, which are the basics to the introduction of a brand analysis for understanding its story and…

Words 4398 - Pages 18

Greek: Marketing and Case Study Components Essay

PREREQUISITE: Principles of Marketing (660.250). COURSE OBJECTIVES: 1. To provide students with hands-on experience formulating, implementing and controlling a strategic marketing program for a given product-market entry through case analysis. 2. To expose students to a broad range of cases involving business and consumer product firms, for profits and non-profit organizations and domestic and foreign companies. 3. To develop an understanding of how the marketing mix can be integrated to achieve marketplace…

Words 4266 - Pages 18

Racism and World Racial Equilibrium Essay

Thomas Chen Published by Rutgers University Press For additional information about this book http://muse.jhu.edu/books/9780813549330 Access provided by New York University (23 Aug 2014 10:11 GMT) 8 R ACISM FROM DOMINATION TO HEGEMONY Howard Winant At the turn of the twenty-first century the world has largely dispensed with the overt racial hierarchies that existed before the post–World War II racial break: colonialism, racially demarcated labor reserves, explicit policies…

Words 6946 - Pages 28

City of Chicago Essay

procedures. The issue is that the local government may not be in a position to implement its financial policies as they deem it appropriate if the centralized government does not support them fully in terms of revenues. This may not be a problem in the case of Chicago Municipality because U.S. is already a mature, democracy where devolution is not a challenge. However, these are the problem that the reader should have in mind and probably illustrate how it has been addressed in as far as the Municipality…

Words 4267 - Pages 18