The problem:
The problem with Coleman Art Museum is the inability to produce any revenue from the past three years as well as the company had gone into their financial reserves in order to cover costs from losses.
Company overview:
The Coleman Art Museum (CAM) is a nonprofit corporation located in Universal City, which is a large metropolitan area in the western United States. CAM was founded in 1925, it was originally named Fannel county Museum of Fine Arts. But in 2000 the name was changed to Jonathon A. Coleman Art Museum in order to pay tribute to large sum of money that Coleman had left to the museum. CAM shows both Art and history and offers a very unique perspective on both. Attendance has shown to be somewhat sporadic over the last 4 years showing several ups and downs. The company has shown at least seven years of profitable or break even status until this last 3 years they have shown losses and have totaled up to ($794,066). The museum currently employs 185 people, along with 475 volunteers.
Offerings
The Coleman Art Museum has over 15,000 works of art in its permanent collection. But as will most museums they do not display all of them at the same time. The collection ranges from Pre-Columbian, African, Depression-era art, European and American decorative arts. CAM collection is open for viewing from Monday to Saturday (10am-6pm) and Thursday evening until 8pm. Sunday hours are from 12pm until 6pm.
Price
There is no charge for viewing the permanent collection, although there is a modest fee of $5-$7.50 to see the special exhibits. Without the work of the volunteer members the operation cost would be astronomical. CAM has two distinct memberships: (1) personal and (2) corporate. These two memberships are further divided into categories based on dollar contribution and benefits received. There are six different categories of personal memberships with several different benefits depending on how much you spend. Personal