Renovated Museums Face Financial Crunch as They Reopen

Museums around the country that are opening newly renovated spaces are facing financial challenges that come with an increased operating budget and a decrease in revenue, reports The New York Times.

Among those facing tough times: The Newseum, in Washington, which has seen a 25-percent drop in the value of its endowment, followed by 20 employees accepting buyouts. Meanwhile, the Brooklyn Children’s Museum, in New York, has seen membership increase along with its budget. Still, its president is not taking the good news for granted.

“Even with all the planning in the world,” Carol Enseki, the museum’s president, tells the Times, “you can’t anticipate situations like what we’re facing now.”