Philanthropy has long been a pillar of support for museums, providing vital museum funding that enables institutions to preserve cultural history, expand access to art and engage future generations.

However, the current landscape of museum funding often leans heavily on the generosity of a select group of large donors, which, while invaluable, can lead to a narrow funding base that limits the scope and sustainability of an institution’s impact.

To fully realize the transformative potential of museum funding, I think it is time to shift our approach to philanthropy and broaden the community’s role in supporting these cultural institutions. Museums must invite people at every level—every visitor, fan and local supporter—to see themselves as part of the museum's philanthropic foundation.

Rethinking Museum Funding Models

Traditionally, the bulk of museum funding has come from a small circle of large donors, corporate sponsorships and grant-making foundations. This reliance on major gifts has enabled the growth of museums but has also come with inherent challenges.

Large donations can sometimes lead to influence over curatorial choices, fundraising efforts and museum leadership. More significantly, relying on a few major donors often leaves museums vulnerable to economic downturns or shifts in donor priorities.

It is time for museum funding to tap into the collective power of their communities and cultivate a more inclusive philanthropic model. This shift could alleviate financial strain and foster a deeper connection between institutions and their audiences, ensuring museums remain accessible, adaptable and community-centered.

The Power of Small Gifts and Community Ownership

Small donations, often perceived as inconsequential in the face of large endowments, hold untapped potential. I've noticed the rise of small-donor philanthropy is particularly evident among Millennials and Gen-Z. One study found that "84% of Millennials give to charity, donating an annual average of $481 across 3.3 organizations."

This preference for small, accessible giving reflects an opportunity for museums to strengthen their financial base and cultivate a sense of belonging by inviting their communities to take part in shaping their future, reimagining museum funding.

Read the full article about museum funding models by Michele Smith at Forbes.