UPDATE 6/26/12: Read this morning’s full story on the Taubman Talk About here. I feel the need to add, based on my own past reporting (note: link will also take you to financial documents), what surprised me wasn’t the financial news so much as that it was stated so bluntly.
If you attended the Taubman Talk About tonight then you got quite an earful. Here’s the opening of my breaking news post on the subject:
Tonight’s public meeting at the Taubman Museum of Art produced the direst description yet of the struggling museum’s financial predicament.
Taubman President and CEO David Mickenberg said the museum’s long-term survival depends on creating a $20 million to $30 million endowment to cover one-third of its operating costs. “Without that, we’re dead,” he said.
Mickenberg shared budget projections for fiscal year 2012-13 that predict the museum will fall $1.4 million short of the revenue needed to cover $3.4 million in expenses.
“Daunting, yes,” Mickenberg said. “If we don’t raise the $1.4 million, we will close. That’s a fact.”
I would love to hear comments from people who attended, what they took away from it, what they thought was important, what they hope the museum will do, what they hope to do themselves. What did you think?