The Cleveland Museum of Art.

Cleveland Museum of Art Aims to Acquire $1 Billion Worth of Art as Part of New Strategic Plan

The Cleveland Museum of Art has announced a new strategic plan that will serve as a road map for the institution to follow over the next ten years. Dubbed “Making Art Matter: A Strategic Framework for Our Second Century,” the plan aims to acquire $1 billion worth of art through donations and purchases, grow the museum’s endowment from $750 million to $1.25 billion, and increase attendance from its average of 630,000 visitors per year to one million.

“Since the conclusion of our centennial late last year, the museum’s trustees and staff have been engaged in a rigorous strategic planning process, with extensive input from both volunteers and its community partners,” director and president William M. Griswold said. “The result is an ambitious plan that will position the museum for a second century of growth. The plan will support the creation of transformative experiences through art, advancing new and existing audiences’ understanding and appreciation of the museum’s truly extraordinary collection.”

The museum will also work toward diversifying its audience, doubling community support to $15 million per year by expanding membership and annual giving, and extending its reach by partnering with the Case Reserve University to establish an arts institute.

“Over the next ten years, we will explore new approaches to the acquisition, presentation, and interpretation of the museum’s collection, we will maximize the impact of our extended campus, and we will create new ways to engage with the museum, in order that we may make art meaningful to an ever larger and more diverse public,” Griswold said.