Art Museum being proactive
Everyone has to deal with budgets. At work or at home, learning how to effectively spend and allocate the amount of money coming in each month is an important, basic financial component of life. In the professional world, budgets drive essentially all decisions made by companies, from hiring personnel and investing in new equipment to reducing staff and going without. In times of feast or famine, budgets drive businesses.
Recently, a number of nonprofits in LaGrange were faced with budgetary cuts when the City of LaGrange announced it was going to reduce the amount of city dollars that could be distributed to these agencies. One of the agencies that saw a reduction in its budget was the LaGrange Art Museum, which is set to receive $25,000 in the 2019-20 fiscal year from the City of LaGrange, a reduction from the $44,000 the art museum has received in the past.
The difference of $19,000 is significant for any business, however is chiefly significant for a nonprofit operating on thin margins. The announcement has forced the museum, and others, to take a long and hard look at internal cost projections and budgets for the upcoming year, and either find alternative revenue streams to make up the deficit, or cut programing.
The art museum is taking steps to make up that funding in new, engaging ways. To help offset the $19,000 difference in its annual budget, the museum is rolling out what it is calling a ‘mini-campaign’ in an effort to fundraise those dollars.
The art museum had more than 9,000 individuals participate in programs in 2018, and a reduction in funding will inevitably lead to a reduction in programing. In an effort to fundraise the money needed, the art museum is taking a proactive step to ensure it can continue to be an important piece of the community.
We wish them luck in their campaign.