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Indianapolis Museum of Art to Rebalance Its Finances

The Indianapolis Museum of Art announced a strategic restructuring that includes an 11% reduction in personnel and a greater emphasis on donated and earned revenue. With a unanimous resolution of the Board of Governors, the IMA has put a plan in place to lessen the Museum’s dependence on its endowment. The total value of the IMA’s endowment was $326 million as of June 30, 2012, but the portion of the endowment that can be used for operating expenses was $203 million. Throughout the nonprofit industry, investment managers have recommended more conservative earnings projections, and the IMA’s efforts are in step with this conservative financial philosophy.

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