The City of Owen Sound will hold a special meeting on fundraising for the Tom Thomson Art Gallery after its hopes for recovering revenue lost in two canceled events earlier this year were dashed.
The Deadly Pairing event, held September 6, came up $24,456 short of its fundraising goal. While some expense categories, including catering, entertainment, and rental costs ran over budget, the bulk of the losses were in attendance revenue, which came in at $20,000 less than expected.
According to the gallery director’s financial presentation for Wednesday’s meeting, the TOM received $474,999.96 as a “tax-funded internal allocation” in 2023. Operating costs for 2024 are listed as $686,336, consisting of $601,836 in wages and benefits, and $84,500 in building costs.
In March, Owen Sound Council directed staff to conduct a Fundraising Feasibility study, to explore funding for proposed $16 million gallery expansion options that combine the gallery with the library and tourism.
Also contributing to the TOM’s budget woes are many types of revenue-generating activities not meeting their projected targets for 2024:
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‘Gallery Night at the Movies’ admissions (-$15,633)
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Special Events admissions (-$16,733)
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Fundraising revenue from events, calendars, and auctions (-$7,106)
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Studio classes (-$4,460)
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Memberships (-$702)
According to this latest update, three revenue categories exceeded projections: Sales desk (+$7,064), Education Tours (+$5,068) and image use fees (+$1,335).
When it comes to donations, TTAG has reportedly received $80,913 of the $82,000 projected for this year, with anticipated endowment funds of $8,000 marked as “TBD.”
The gallery’s two other 2024 fundraising events, expected to raise $5,000 each for the 2024 budget, were cancelled this spring.
The special fundraising meeting for the TOM will be held on Wednesday, October 30, 2024, at the Owen Sound and North Grey Union Public Library Auditorium from 10 a.m. to 12 p.m.
According to the agenda, the meeting will begin with the director’s presentation of the gallery’s financials. Attendees will break out into brainstorming groups to participate in a S.W.O.T analysis of the gallery’s fundraising strategies and revenue sources, then bring their ideas forward to the group as a whole and discuss next steps.
The meeting will be open to the public but will not be livestreamed.
