And they didn’t even need a sales tax increase

by thoughtfulconservative

Milwaukee Public Museum pays off loans.

For the first time since the financial crisis hit, the museum’s net worth has moved into positive numbers – $607,000 as of last month. The county owns most of the museum building and all of the collection, while the nonprofit Milwaukee Public Museum Inc. operates the museum and its planetarium and IMAX theater.

The next big financial step for the museum will be launching a major capital campaign this year, with a goal of raising $25 million over three to five years.

Good news, indeed.

The loan payoff is a milestone, but the museum still has a long road before it’s financially set, county Auditor Jerome Heer said.

“The big question is, is (the recovery) sustainable,” Heer said. “It’s going to continue to be a marathon.”


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