Bellevue Arts Museum announced its closure to the public on their website on Sept. 4, citing financial challenges as the main cause. The museum, established in 1975, has exhibited a host of artists from the Greater Seattle Area and across the country. Senior Cameron Arthur (she/her) said that the closure was disappointing to hear about.
“Going to art museums is something I greatly enjoy, so hearing that one is closing down is certainly not very good news,” Arthur said.
The past few years have been a financially bumpy road for the museum. They reached a breaking point in February of this year, when they launched the SAVE BAM campaign as a final call for donations and support. In the newsletter post, they cited the COVID-19 pandemic as a main cause of their recent financial crises.
“Until attendance and fundraising fully return to pre-pandemic levels, it is critical for the community to play a role in closing the gap,” their February newsletter reads.
While the pandemic has played a role in BAM’s decline, these issues didn’t start in the last four years. According to the museum’s tax documents, they’ve ended nearly every year since 2010 in a financial deficit. They have primarily relied on grants, sponsors and regular donors for revenue.
“The combination of reduced donations, rising operational costs, and a decline in visitor numbers post-pandemic has left BAM in an increasingly unsustainable position,” they stated in their newsletter announcing their closure.
Other revenue was generated from admission costs, government grants, fundraisers, the museum store and their annual Arts Fair. The main cause for their weak financial model is their lack of an endowment, which is a fund that provides long-term support. When organizations have an endowment, a certain portion becomes available to spend each year, while the rest of the money is retained to maintain growth. Without this, the museum didn’t have a stable financial resource to draw from when revenue was low.
Additionally, unlike most art museums, BAM didn’t have a permanent collection. This meant they had to cover the costs of bringing in the art for the exhibits. Furthermore, organizing temporary exhibits each year took a large portion of their revenue. Arthur said that public funding can be a harmful model for museums that also rely on grants from the government.
“In states or local governments that turn to budget cuts, the arts tends to be the first thing that gets cut out of funding,” Arthur said.
According to The Art Newspaper government funding of museums has been on a decline over the past few years.
Shortly after announcing their closure, BAM filed for receivership, where the company is put in the hands of someone who sells or liquidates their assets to pay off outstanding debt.
This isn’t the end for BAM, though. The museum will still host their annual Arts Fair in 2025, and they intend to continue organizing private events. However, it’s unclear whether the museum may ever come back.
“We extend our deepest gratitude to everyone who has supported BAM over the years,” wrote former BAM Board President Jay Pathy in the closure announcement newsletter. “Your belief in the power of art and culture has been our greatest strength, and we hope that, in time, we may find a way to bring that spirit back to life in a new and sustainable form.”
