HISTORY NEWS

From Wall Street to Main Street and now to Puddle Dock, the effects of the faltering economy are taking their toll. This press release comes to us from the offices of Strawbery Banke Museum. Stats show 1/3 drop in income from endowments and donations. (Continued below)

Faltering Economy Takes Toll
February 2009

A few short months after celebrating the 50th Anniversary of the founding of Strawbery Banke Museum, the Board of Trustees and staff are now making the tough choices necessary to ensure the museum continues to offer high quality programs to its visitors and the community through the difficult challenges the worsening economy is providing.

Like so many other cultural institutions, Strawbery Banke Museum relies heavily on donor support and investment income from its endowment in order to finance annual museum operations. Enter a struggling economy that has drained the finances of individuals and businesses alike, and a volatile stock market that has realized double-digit decreases, and it is no surprise that the museum is making the changes that are needed to avoid a significant budget shortfall for the upcoming year. 

THE BOOK: History of Strawbery Banke

Strawbery Banke Museum's president, Lawrence Yerdon states, "The global economic crisis has already negatively affected two of the museum's major sources of revenue - donations to the annual fund and endowment income. The museum will continue its focus on bringing the stories of Portsmouth and the history of America to its visitors, but the current state of the economy requires us to reduce the museum's operating costs."

The museum has experienced a 35% decrease in endowment income and is forecasting a 30% decrease in annual fund income over the next year. Adding to the financial concerns, are projections that suggest museum admissions will decrease over the next year. In 2007, the museum saw its attendance increase by 17%. Throughout most of 2008, the museum's attendance continued to climb another 8% with strong interest in its programs and special events. However, in the closing months of the 2008 season, attendance slid 6 percent. "If the economy continues to weaken, we anticipate people will have to make difficult choices about how they spend their money and this could mean fewer visitors coming through the gates at Strawbery Banke. The predicted decrease in attendance is also in line with what other museums have been experiencing across the country as well," says Amy Moy, the museum's marketing director. 

In anticipation of a very difficult year, and to avoid the financial crises that other institutions are facing, the museum has made significant changes to its operations plan for 2009. After carefully examining every source of income and expense, the revised plan for the museum calls for reducing operating costs while maintaining the integrity of the museum's programs and visitor services. Yerdon states, "Given the current state of the economy and the uncertainty of when economic conditions will improve, it was critically important for the museum to be cautious in its budget projections. The revised operations plan for 2009 is a proactive and necessary approach to weathering the current economic crisis." Changes in the operations plan include eliminating eight year-round staff positions, reducing the number of seasonal staff by 40%, and across the board cuts to all department budgets. Jeffrey D. Gilbert, Chairman of Strawbery Banke's board of trustees, adds, "The decisions were very difficult to make. The revised operations plan is prudent and necessary to support the operation of the museum given the economic challenges the year ahead will bring." 

Strawbery Banke Museum is certainly not alone in its need to carefully re-evaluate its operations as concerns about a deepening recession make daily news. All across the United States, museums are laying off staff and restructuring operations. The Peabody Essex Museum in Salem, MA has closed on Mondays to reduce its operating costs. The Winterthur Museum in Delaware has laid off 14 full-time employees and has decided to eliminate 15 jobs that were already vacant due to a significant decrease in the value of its endowment. The Minnesota Museum of American Art is closing its doors due to the growing financial crisis. Several states are also temporarily closing historic sites as the slowdown in the economy, rising unemployment, and unrest in the national financial markets devastate revenues. 

Despite the trimmed budget, visitors to Strawbery Banke Museum will still have the opportunity to experience four centuries of American life in meaningful and exciting ways. General admission prices are not being raised and guided tours of the historic homes and gardens have been added to the daily program to enhance the visitor's experience. Plans to build a handicapped-accessible, outdoor space where families can take part in the physical activities and outdoor play enjoyed by children from 1690 to the 1950s will also move forward thanks to funding from the Roger R. and Theresa A. Thompson Endowment Fund. The donor sponsored History Theatre Project will also move forward with plans to present a production in the fall that utilizes the museum's historic buildings as a stage and presents stories of the past wrapped with insights into the present to educate and engage museum audiences. The museum's signature special events will also continue to be held throughout 2009 and promise to provide unique opportunities for visitors to interact with history.

ABOUT STRAWBERY BANKE MUSEUM

Connect with the Past! Step into 400 years of living in the Puddle Dock neighborhood. Strawbery Banke provides the opportunity to see how people lived for four centuries of New England history. Through restored furnished houses, exhibits, historic landscapes and gardens, and costumed role players, Strawbery Banke interprets the living history of generations who settled in Portsmouth, NH, from the late 17th century to the mid-20th century.

Strawbery Banke Museum in Portsmouth, NH, is open May 1 through October 31, 10 to 5 daily; and November through December for guided walking tours and special events. Call 603-433-1100 for more information on admission or visit

 Official Strawbery Banke web site