Museum Debt Policy Report

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This proposed debt policy is developed for the Solomon R. Guggenheim Museum and endeavors to reflect its philosophy and possible priorities. The Guggenheim Museum is located in the heart of New York city. Its architectural design and powerful ability to create a reciprocal relationship with its audience makes it unique and unforgettable in the memory of its visitors. Furthermore, the Museum has developed a multicultural ambience that attracts people from all over the world by presenting significant exhibitions and offering a constant interaction with the various aspects of Art. Its expansionary ambitions are noticeable and play a dominant role in keeping the museum competitive and robust. The Solomon R. Guggenheim museum mirrors the civilization of a modern society which respects and recognizes Art as an indispensable part of life.

Statement of purpose …show more content…

The museum understands that in order to achieve this mission and stimulate the public, it must manage its finances to optimize the quality and quality of services provided. In addition, it understands that financial efficiency also derives from the use of debt instruments, when appropriate and to the level authorized by this debt policy (Motz). The nature of this document is didactic. Its purpose is to demystify and guide the fastidious procedure of borrowing and set a concrete base for the exhaustive understanding and productive use of debt. However, this debt policy is created solely for the Guggenheim museum reflecting its own fiscal philosophy and institutional priorities. Furthermore, this document must be accessible by all the highest authorities, management, staff of the museum and external parties.
Fiscal Mission

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