JYF Aims to Increase Facility Rentals, Social Fundraisers

By Amber Lester Kennedy Thursday, December 01, 2011

The Jamestown-Yorktown Foundation sees social functions as the best alternative revenue stream to tap.

At a Board of Trustees meeting on Wednesday, Del. Kirk Cox presented four revenue-boosting recommendations made by a Financial Stability Task Force appointed last year. The task force recommended the foundation maximize its facility rentals; throw more fundraising galas; streamline operations; and capitalize on the 400th anniversary of the founding of Virginia’s legislative body in 2019.

The recommendations were based on data collected from a financial sustainability survey sent to 29 institutions in Virginia and across the nation. The foundation wanted to find out how other museums and attractions are addressing their financial needs. A mail survey was sent to 29 institutions, including Mt. Vernon, the Chrysler Museum and Old Sturbridge Village, and 18 sent responses. Half of them were located in Virginia and half were not.

Among the institutions, some common themes emerged in their marketing plans. All of them noted an increasing focus on social media marketing and web marketing, with significant decreases in print advertising. Online ticket reservations have also increased, as have ticket prices. Some institutions opted to increase their public relations efforts and engage in tourism marketing partnerships.

To support their educational missions, institutions have increased their Internet offerings and outreach education efforts, and some have partnered on new exhibits to reach new audiences. Few institutions have seen significant changes to their permanent exhibits or collection sizes, however.

For development, institutions and attractions have increased fundraising and grant writing, boosted facility rentals and seen increases in gift shop sales. Some have identified savings by renegotiating vendor contracts, reorganizing job functions and relying more on volunteers.

The Jamestown-Yorktown Foundation has lost some positions through attrition. Debby Padgett, spokeswoman for the foundation, said all positions that become vacant are reviewed by the Secretary of Education to determine whether they will need to be filled. The foundation is hiring some positions, however, including a position for a volunteer coordinator.

When comparing its entities with the survey respondents, the Jamestown-Yorktown Foundation found only a few significant differences: marketing funding and group sales, outreach efforts and development staffing.

They found Mt. Vernon and Old Sturbridge are maximizing facility rentals. The Georgia Aquarium was able to reduce energy costs after completing an energy usage audit. Mystic Seaport in Connecticut has started holding its galas not in Mystic, but in New York City, where it has also given awards to big names, including historian David McCullough. Indiana’s Conner Prairie Farm has added hot air balloon rides to its attractions. Director of Outreach Education and Special Services Pam Pettengell said all of those ideas could serve as inspiration for the Jamestown-Yorktown Foundation.

During Wednesday’s meeting, trustees also heard presentations from the building and grounds, public programming, marketing, administration and personnel, executive and finance and nominating committees. Paid admissions are at their lowest since the 400th anniversary celebration in 2007; compared to this time last year, paid admissions have decreased by 14,565. Admissions revenue is up over the same time last year, however. The foundation has made $4.5 million to date, compared to $4.4 million in the same period last year.

Cox said the Executive Finance committee will wait for the mid-year update on the foundation’s revenues before determining any “course corrections.” He added that Gov. Bob McDonnell has asked all state agencies to submit reduction plans for two percent, four percent and six percent reductions.

Del. Chris Jones, representing the Administration and Personnel Committee, said the foundation’s workforce has decreased by 23 percent since 2008. The foundation struggles to retain hourly employees, and will have to grapple with an aging workforce, but has benefitted from committed volunteers, he said.

The Board of Trustees will next meet in May.