By Kamée Payton
Charitable donations are integral to sustaining and expanding nonprofits, arts organizations, and cultural heritage institutions. With government funding decreasing and operational costs increasing, philanthropic giving is essential, now more than ever.[1] Since the current administration took office, one-third of museums nationwide have lost government grants and contracts.[2] These losses have set off a domino effect of difficult decisions, including laying off staff, cancelling public programming, and delaying maintenance and repairs.[3]Many art museums are also still recovering from financial losses incurred during the Covid-19 Pandemic.
According to Elizabeth Merritt writing for the American Alliance of Museums, on average, 30% of museums’ incomes comes from charitable gifts, with 67% of gifts being from individual donors and 33% from foundations.[4] Many institutions already rely on philanthropic gifts for one-third of their funding and now must absorb the losses of government funding. Accordingly, these institutions are looking for new ways to encourage giving. Noncash (and non-art) donations may be the solution.
Noncash Donations
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