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The Ross advisory committee in March 1993 outlined a plan for how the Society could begin to generate a sound capital base through sales of some of its collections and development of a part of its real estate. Whether such a plan can be a success depends on many factors, not the least of which is the time it will actually take to generate money from these initiatives. No one knows whether fol­lowing these recommendations will allow the Society to remain independent, but regardless of the specifics of its plan for survival, there is one hurdle the Society must clear if it is going to pursue this course.

The Society must balance its budget. For a quarter of a century, Society lead­ership has justified deficits with claims that excess expenditures were an invest­ment in the future, that they were necessary to show that the Society was an institution worth supporting. The Society is suffering the effects of those invest­ments. Today, not only is the endowment almost gone, but $1.8 million in loans remains outstanding. No single thing the Society can do will go further to restor­ing public confidence in the institution and its leadership than a balanced budget.

A stable and viable financial plan will require involvement from each and every one of the Society's many constituencies, but the single most important par­ticipant is the public sector. Lack of timely public support was one of the key rea­sons for the failure of the Society's bridge plan in the late 1980s. Significant public support is the one variable that has changed that makes considering an indepen­dent path for the Society possible.

It must be understood, however, that the type of public sector support mat­ters a great deal. The Society must convince the city and state to provide unrestricted general operating support. What brought the Society to the brink of bankruptcy was not so much lack of support—the Society raised more than $20 million dur­ing the Debs administration, much of it in the form of restricted program grants—it was the lack of unrestricted support. As the Society's unrestricted cash balances dwindled, so did its ability to make payroll and pay bills for such basics as utilities. Unfortunately, because of the heightened publicity surrounding the Society, there is some risk that government support could be linked to new programs of community outreach. Such a linkage would be self-defeating; designing and manag­ing such initiatives is expensive and is unlikely to result in any new net income to operate the institution.

Barring significant annual support from the public sector, the Society would once again have to depend on private contributions. Given its recent history, how­ever, it is unlikely that the Society can raise the substantial sums required through annual appeals. If the Society is to be successful in such a scenario, it will re­quire an extremely large donation from a private benefactor to replenish its unrestricted endowment.

Option 2: dissolve the society and distribute the collections

The most drastic alternative the Society could choose would be to dissolve itself and sell or otherwise distribute its collections. Choosing this option would amount to an admission that the Society does not have a sufficiently broad support base to justify keeping its collections together and in a single independent institution. In addition, to argue for such an alternative, one must put aside one's concern for the institution and instead place more emphasis on the collections and on what maximizes the use of the limited public resources available to care for them. Put simply, it says that the Society as a whole is worth less than the sum of its parts.

Questions & Answers

Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, The new-york historical society: lessons from one nonprofit's long struggle for survival. OpenStax CNX. Mar 28, 2008 Download for free at http://cnx.org/content/col10518/1.1
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