Minneapolis Institute of Arts cuts staff, budget

The MIA has announced it's cutting ten staff members as part of its plan to keep the budget balanced in the coming years. Here's the museum's official statement:

Minneapolis, MN, April 20, 2011--The Minneapolis Institute of Arts (MIA) announced that it is reducing expenses for the coming year by more than $1 million, through a combination of strategic cuts to departments and the elimination of 7 full-time and 3 part-time positions. The museum's goal is to ensure a balanced budget as it anticipates both increased costs for museum operations and reduced revenue for FY2012 and 2013. Through these proactive reductions, the MIA will be able to sustain its strong schedule of exhibitions and public programs.

"The museum is fortunate to have a highly capable staff, which makes any decision regarding jobs a difficult one," said Kaywin Feldman, Director and President of the MIA. "However, in order to maintain our high level of public service, through exhibitions, collections, educational and community initiatives, and to continue to offer free admission, it is important that the museum plan for the future and maintain a balanced budget."

The dip in revenue for FY2012 is in large part due to the way in which the museum calculates the income from its endowment, based on a three year rolling average. While the actual value of its investments is rebounding along with the financial markets, the endowment income for FY2012 will reflect the lowest average value since the crisis hit in 2007--2008. In addition, the MIA expects contributed revenue, from both public and private sources, to remain stable but not to increase enough to offset other declines.

According to an article by the Star Tribune's Mary Abbe, "seven full-time and three part-time posts were eliminated from a staff of 252" including associate curator of paintings Sue Canterbury and membership director Ann Benrud.

This is the largest staff/budget cut at the MIA since 2009. You can read about those cuts here.

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