Annual Report Shows Just How Rough Finances Were for the Met in 2008-09
Just how bad did the economic downfall hit museums? If you take the Metropolitan Museum of Art as your example, it should provide a good indication. BusinessWeek gives a quick rundown on the famous museum’s just-released 2008-2009 annual report, showing just how dramatic the financial cutoff was (a decline of about 24%, or $660 million). Here’s a bit:
The museum “never expected to find itself facing the unprecedented challenges that were brought on by the recent global financial crisis,” wrote President Emily K.
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