FINANCIAL SUSTAINABILITY TOOLKIT

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Now more than ever, arts, culture, and heritage organizations must explore new revenue models to ensure a secure future for their institutions.

This toolkit will investigate how your organization can take steps towards financial sustainability with earned income, facility use, food service, e-commerce, travel programs, and philanthropy.

GST/HST

Gift Shops and E-Commerce

Museum Store Sunday

Museum stores perform integral and multi-faceted work for their institutions -- from earning income and extending mission-related programs, to visitor engagement and educational outreach through store products, programs, and experiences.

Museum Store Association

The Museum Store Association (MSA) is dedicated to advancing the nonprofit retail industry and the professionals engaged in it. Through advocacy, education, and collaboration, MSA provides the tools and community to help cultural institutions, vendor members, and their commercial partners to expand the visitor’s experience, enabling them to take a piece of that experience home.

Filming at your Institution

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Non-Profit Administration & Governance

Show Business

Join the BCMA and Burnaby Village Museum Curator, Jane Lemke to explore some best practices and the steps your organization could take to prepare for filming at your site.

Economics of location filming: Museums and galleries

Of the nineteen museums and galleries I approached, all declared at least some income from film and television productions.

A Compilation of Guidelines for Filming

The following is a compilation of guidelines from a number of museums: the Natural History Museum of Los Angeles County, the Los Angeles County Museum of Art, the Boston Museum of Fine Art, the Museum of Modern Art, the National Gallery of Art, and Hampton Court Palace, blended together and sorted into topics.

Investing

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Non-Profit Administration & Governance

Impact Investing

Impact investing aims to generate social and environmental impact alongside financial returns. The necessary components of Impact Investing are: Intention, Measurement and Financial Return.

Blog: Responsible Investing, Myths and Reality

You don’t need to compromise your values when investing, and neither do you need to lower your expectations for performance

Blog: Understanding Responsible Investing

If you’re using your purchasing power to do good, you can also be using your investing power to make a difference too. You can do this through responsible investing.

Video: Responsible Investing, Myths and Reality

Learn more about putting your money to work in alignment with your values and your financial goals

Podcast: Investments with Impact

The ways that we spend money make an impact on our world – and that includes our investment decisions. Are your savings supporting companies who share your environmental, social, and governance (ESG) values?

Podcast: Is responsible investing right for everyone?

More than half of the Canadian investors that you know are likely making vales-based choices. Responsible Investing (RI) is taking off in Canada and we wanted to know why.

Business and Corporate Events

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Non-Profit Administration & Governance

The MICE Market of Corporate Events

Cynthia will take participants through making an inventory of their current resources, preparing a high-level environmental scan to assess local business, developing a business plan, and sharing some of the collateral and documentation required to implement a robust venue rental program

The Main Event – How museums can maximise income from their unique venues

One of the key income streams often overlooked and certainly under-valued is what can be generated from the often unique attributes of the venue itself, whether from corporate hospitality hire or hosting other commercial or private events throughout the year.

Facility rentals offer museums additional revenue source

A number of local museums are exhibiting revenue growth from a non-traditional source: facility rentals for weddings, corporate events, and private parties. While most say rentals generate a fraction of their annual revenue, they note that events make a significant contribution to their business and fundraising.

Philanthropy

Free Fundraising Consultation

Take advantage of your BCMA Membership to receive a free 30 min fund development consultation with our partners at Global Philanthropic!

Learn more

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Fundraising

Webinar: Fundraising in a Post-Pandemic World

An engaging and insightful look at fundraising in a post-pandemic world and new revenue sources centered around social enterprises.

Museums in the Era of Micro-Philanthropy

Will museums continue to be supported by major gifts? Will the next generation of philanthropists share the values and commitments of those who have historically supported a museum? What about the new wealthy class, who have become philanthropic from wealth gains in technological innovation? Will they donate to museums to the same degree as past generations of museum donors?

Browse more fundraising resources

Best practices, ethics considerations, writing a plan and more!

Food Service

BCMA Podcast: Financial Sustainability Week and Food Services

What’s One of the Hottest Attractions at Museums? The Restaurant

In recent years, major art museums across the U.S. have been ditching run-of-the-mill cafeterias and making way for restaurants that are destinations in their own right, with top chefs and unique menus regularly written up in Michelin and Zagat guides and reviewed in magazines such as Bon Appétit, Food & Wine and Travel & Leisure.

Success Guide: Successful Museum Cafes

Cafes are rather like good exhibitions – the best have real passion, plus good organization, to come alive and make money. The downside is that cafes are not static exhibits – food goes off, labour costs can ruin your budget and customers rightly don’t appreciate queues, poor quality food, dirty tables or service without a smile.

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