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Finance at a Museum

    
 

Museum of London
INCOME   EXPENDITURE  
DCMS £6,093,000 Acquisitions £11,000
Corporation of London £4,519,000 Exhibitions £3,3477,000
Education £42,000 Interpretation £291,000
    Curation £3,634.000
    Docklands £216,000
Archaeology £4,475,000 Archaeology £4,746,000
    Finance costs £940,000
Sponsorship £2,206,000 Fundraising £136,000
Other £315 Admin £376,000
    Marketing £209,000
Trading £741,000 Trading £890,000
Total £18,391,000 Total £14,796,000
       
Note admission income in last year of entry charges was £793,000    

Source Annual Report of the Museum of London 2002 - 2003

 

Most larger museums get only a small proportion of income from admission charges and trading.

Major development is almost always funded by grants and fund-raising.

The situation may be reversed for small independent Museums. The Old Operating Theatre Museum for instance gains 90% from admissions, sales and hire but only 10% from grants and this figures fluctuates each year.

Museum Accounts - 2008-2009

British Museum

Museum of London

Old Operating Theatre Museum

 

 

 

  
 


   
 
Last Updated 20 April 2010
   

Lecture by Kevin Flude - prepared for 'Creative Practice in Narrative Environments'

MA course at Central Saint Martins College of Art & Design & developed for University College Worcester

Email the Author.Template Last Updated on 23 March 2006Cultural Heritage Resouces