According to the Museum’s 2018 Annual Report, it took in approximately $47,500,000 from admission fees from 7,035,000 visitors [including satellites – Breuer and Cloisters]. [reported in the Museum’s 2018 Form 990] The Form 990 also breaks down attendance to the following categories: 34% International; 26% New York City and 13% from the Tri State area. That is an average admission amount of $6.79/visitor, alarmingly below the suggested $25 PWYWBYMPS amount or the average $9/person amount reported in the popular press.
Now, the Museum charges a “mandatory” admission fee of $25 for adults while still requiring New Yorkers to pay an amount “that is up to you” [TAYPIU2U]. Museum, City and State leaders and legislators should stop equivocating around this issue. A mandatory admission fee for non-New Yorkers is to the economic and good will benefit of the Museum and to the economic, cultural and educational benefit of New Yorkers.
FA Details The Opportunity Parameters:
- $25 … the mandatory Museum admission fee for non-New Yorkers.
- $47,500,000 … The admission fees reported to be taken in by the Museum in 2018 under its TAYPIU2U policy.
- 7,035,000 … The number of 2018 visitors reported in The Museum’s Form 990.
- 26% … The 2018 percentage of Museum visitors from the five boroughs.
Question: What amount above $47,500,000 would the Met Musuem take in from admission fees if all non-New Yorkers were charged $10 or $15 or $20 or $25?
- FA uses a 360 day calendar year
- FA rounds Met Museum attendance figures to 7,000,000
- FA records an admission fee two days a week for New Yorkers per terms of Ch. 476 of the Laws of 1893 [100 days]
If the Met Museum charges $10/visitor:
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From New Yorkers:
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From Non-New Yorkers:
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At $10/per person admission fee, a compliant Museum would take in
additional admission fee income of $5,563,750.
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If the Met Museum charges $15/visitor:
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From New Yorkers:
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From Non-New Yorkers:
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At $15/per person admission fee, a compliant Museum would take in
additional admission fee income of $32,095,625.
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If the Met Museum charges $20/visitor:
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From New Yorkers:
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From Non-New Yorkers:
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At $20/per person admission fee, a compliant Museum would take in
additional admission fee income of $58,675,624.
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If the Met Museum charges $25/person:
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From New Yorkers:
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From Non-New Yorkers:
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At $25/per person admission fee, a compliant Museum would take in
additional admission fee income of $85,159,375.
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With a possible 85 Million Dollars in additional admission income to a compliant Museum, it is clearly a “win-win” antidote to the Museum’s well-reported “red ink” operations, at least as of this writing in 2018.