The NAO report found that “although the museums and galleries are involved in a number of creative schemes they may need to do more to encourage an entrepreneurial culture.” Nevertheless, over the five years to 2003, corporate sponsorship has doubled to £13m and trading profits on commercial activities such as retailing and catering had increased by 18%.The report identified fundraising as a major potential growth area. The NAO recommended that the institutions invest in developing specialist skills in this area, and complement this with appointing trustees with commercial and fundraising experience. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Finance Research / statistics Howard Lake | 16 February 2004 | News NAO reports on museums and art galleries’ fundraising “Museums and galleries have become increasingly successful at generating their own income”, according to a National Audit Office (NAO) report on their fundraising activities presented to Parliament.The report was based on surveys of the 17 museums and galleries that are funded by the Department for Culture, Media and Sport (DCMS) and looked at how raise their money and how they could increase their income. It focused on best practice and contains “many interesting examples of innovative projects and approaches drawn from the sponsored museums and galleries and other similar organisations both in the UK and abroad.”The museums and galleries generated £68 million in 2002-03 which was mainly tied to specific campaigns and projects. Trading activities generated £22 million and other income, including admission charges to temporary exhibitions, raised a further £18 million. Advertisement 27 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.