Clyfford Still Museum Analysis

The Clyfford Still Museum is a 501(c)(3) nonprofit organization located in downtown Denver, Colorado. This museum operates like a normal 501(c)(3), except for one aspect. The Clyfford Still Museum is supported in a large way by its own independent asset management organization, the Clyfford Still Museum Foundation. This foundation’s sole job is the management of the endowment of the museum in support of all museum objectives. The Clyfford Still Museum Foundation, which is also classified as a 501(c)(3) nonprofit, has its own board of directors separate from the board of the museum itself. According to John Eding, the Director of Communications and Marketing at the Clyfford Still Museum, the idea of a separate organization managing the endowment
The museum has typical General Admission tickets, priced at $10 for adults, $8 for seniors and $6 for students, respectively. The museum offers memberships of various levels. Memberships start at the $45 Individual Membership and go all the way to a $5,000 Director’s Circle option, which includes benefits like a private tour with the museum’s director. There is also a museum activity group called The Friends of Clyfford Still which costs an initial fee of $50 dollars and allows patrons to bond over their shared artistic interests. The beautiful building which houses the collection is also available for private events and has several intellectual property licensing deals with various other artiscally focused institutions. The Clyfford Still Museum also has a small but mighty gift shop/bookstore which can earn quite a large amount of money on its own. Other income streams for the Clyfford Still Museum are contributed. Things such as private donations, public grants, funding from the SCFD, and most importantly support from the Clyfford Still Museum Foundation are truly what keep the organization
Some of the information in document was not publically available, but the portions that were contained more relevant, up to date, breakdowns on earnings data than what is typically contained in the publicly filed 990 tax forms. This statement showed that from January to October 2017 the Clyfford Still Museum had a total revenue of $3,600,000. Of this total, the amount that came from gifts to the museum was roughly $720,000, and the amount contributed by the Clyfford Still Foundation was about $2,500,000. This means the percentage of contributed revenue for the museum is about 98.944%. The remaining 1.056% of revenue, or $380,000, comes from earned sources. The general admission admissions income is $114,000, membership is about $78,500, and the remainder comes from the gift shop as well as rentals and licensing (Eding 2018). Keeping in mind that these numbers are already at 80% of next year’s needed operating budget while still having two months left in the year the Clyfford Still Museum seems to be right on track, in terms of total revenue. If you were to extrapolate the income for the rest of the year, assuming revenue comes in at the same rate it has for the first ten months of 2017, it would put the Clyfford Still Museum at a total revenue of $4,500,000 for 2017. This number seems right on target when compared to the total revenues reported in the