Shutdown Costs Reagan Library $150,000 a Week in Lost Revenue

The rumor was flying around the L.A. area—the Reagan Library was going to close permanently.  Not true.  It is closed, now, like other libraries, museums and public facilities.  Like the others, no one knows for sure when it can re-open.  In the meantime, it is losing $150,000 a week in revenues.

“The letter was initially published online Tuesday morning by celebrity news site TMZ. The museum confirmed to the Business Journal the letter’s validity Tuesday afternoon.

“As you can imagine, as a public-facing institution, we collect revenue through ticket sales, museum store sales, audio tour sales, membership sales, etc. By being closed, these funds are now not coming in,” Melissa Giller, the museum’s chief marketing officer, said in an email to the Business Journal. “That said, we’ve been raising funds for decades – and we’re quite successful at it. … The fundraising we have been able to do is keeping every single employee – part time and full time – employed during this ‘shelter-at-home’ timeframe while public spaces and businesses are closed. We have not currently laid off anyone.”

The museum employs about 150 people, including part-time workers, between its two offices in Simi Valley and Washington, D.C.”

Sad time for all of us—the legacy of freedom personified by President Ronald Reagan is closed—but it will open again.

Shutdown Costs Reagan Library $150,000 a Week in Lost Revenue

By Andrew Foerch, SFV Biz Journal,  3/31/20   

The Ronald Reagan Presidential Library and Museum in Simi Valley is trying to shore up donations to compensate for hundreds of thousands of dollars in lost revenue resulting from the COVID-19 outbreak.

A letter sent by Executive Director John Heubusch to the museum’s members this week specified that every week the museum remains closed, it loses about $150,000 in revenue from admissions, concessions, events and other on-site sales. The museum has been closed since March 13.

Heubusch requested donations of any size “to ensure we can re-open our doors.”

“The Reagan Library and Museum relies on revenue from museum guests and members. With our doors closed indefinitely, we are joining Americans in tightening our belts as best we can in response to these unprecedented circumstances,” the letter stated. “Our operations moving forward is dependent upon the generosity of friends like you.”

The letter was initially published online Tuesday morning by celebrity news site TMZ. The museum confirmed to the Business Journal the letter’s validity Tuesday afternoon.

“As you can imagine, as a public-facing institution, we collect revenue through ticket sales, museum store sales, audio tour sales, membership sales, etc. By being closed, these funds are now not coming in,” Melissa Giller, the museum’s chief marketing officer, said in an email to the Business Journal. “That said, we’ve been raising funds for decades – and we’re quite successful at it. … The fundraising we have been able to do is keeping every single employee – part time and full time – employed during this ‘shelter-at-home’ timeframe while public spaces and businesses are closed. We have not currently laid off anyone.”

The museum employs about 150 people, including part-time workers, between its two offices in Simi Valley and Washington, D.C.

The Reagan Library and Museum is a popular tourist destination and a sought-after venue for San Fernando Valley and Ventura County business events. The museum receives no federal funding despite being administered by the National Archives and Records Administration.

The institution offers free admission and other benefits to members who pledge annual donations.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.

Comments

  1. Really??? says

    Capitalism? Planning for a rainy day? Not having to layoff anyone?

    By George I bet if government ran this way we the taxpayers would not be taking it in the shorts with the Democrat stupidity.

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