Date of Award
2025
Document Type
Thesis - Open Access
Degree Name
Master of Arts (MA)
Department
Art Business
First Advisor
Agnes Berecz
Second Advisor
Matthew Nichols
Abstract
This thesis examines the intricate relationship between financial operations and the public function of American art museums. The distinctive American nonprofit model relies heavily on private funds for its survival and success. The thesis traces the historical development of this model, and then analyzes the contemporary state of American art museums, with a specific focus on two prominent institutions: MoMA PS1 and the Yale University Art Gallery. The analysis highlights the significant influence of board members' financial contributions and their business expertise on museum operations. Moreover, the thesis argues that the museum world has undergone rapid financialization in the twenty-first century. Ultimately, the thesis concludes that the American art museum landscape is undergoing a profound transformation driven by financial and operational considerations and argues that museums must navigate the complex terrain of financialization while remaining true to their mission of preserving and presenting art for the public.
Recommended Citation
Owen, Lucy, "“The entire art movement has become an enormous business venture” Financing the American Art Museum" (2025). MA Theses. 220.
https://digitalcommons.sia.edu/stu_theses/220
Included in
American Art and Architecture Commons, Corporate Finance Commons, Finance and Financial Management Commons, Museum Studies Commons