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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

where we get a research paper on Nano chemistry....?
Maira Reply
what are the products of Nano chemistry?
Maira Reply
There are lots of products of nano chemistry... Like nano coatings.....carbon fiber.. And lots of others..
Even nanotechnology is pretty much all about chemistry... Its the chemistry on quantum or atomic level
no nanotechnology is also a part of physics and maths it requires angle formulas and some pressure regarding concepts
Preparation and Applications of Nanomaterial for Drug Delivery
Hafiz Reply
Application of nanotechnology in medicine
what is variations in raman spectra for nanomaterials
Jyoti Reply
I only see partial conversation and what's the question here!
Crow Reply
what about nanotechnology for water purification
RAW Reply
please someone correct me if I'm wrong but I think one can use nanoparticles, specially silver nanoparticles for water treatment.
yes that's correct
I think
Nasa has use it in the 60's, copper as water purification in the moon travel.
nanocopper obvius
what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
How we are making nano material?
what is a peer
What is meant by 'nano scale'?
What is STMs full form?
scanning tunneling microscope
how nano science is used for hydrophobicity
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
what is differents between GO and RGO?
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
analytical skills graphene is prepared to kill any type viruses .
Any one who tell me about Preparation and application of Nanomaterial for drug Delivery
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
The nanotechnology is as new science, to scale nanometric
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
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.
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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