Cultural Institutions Bear Down, Build Up During Tough Times

Daulerio, A.J.
June 2004
Bond Buyer;Jun2004 Supp Art of Museum, p2
Trade Publication
The article reports on building up of cultural institutions with the stabilizing economy in the U.S. The economy's downturn plus the impact of September 11, 2001 terrorist attacks on tourism, fund raising, and endowment earnings hurt many cultural institutions across the country. But now there has been exponential growth in the number of institutions that are accessing the bond market. Building new facilities can be both a blessing and a curse for cultural institutions. New spaces and attractions can yield a financial jump start that some floundering institutions need or can lead an institution into deeper financial trouble.


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