This past year, following the script of its ambitious strategic plan, the Museum pushed forward to expand its grant-funded programs and projects in numerous areas—most notably in community engagement, STEAM, and the arts. Largely due to the success of these endeavors and a favorable interest rate environment, the Museum had a financially solid fiscal 2024.

During the year, the Museum raised over $4.2M in grants, sponsorships, and endowed gifts. This critical funding included support for the Museum’s Birth to Five: Play, Grow, Thrive initiative from an anonymous donor; a new collaboration with the City of Boston Mayor’s Office of Arts and Culture to offer free Museum admission to all Boston Public School students and their families two Sundays a month; and the start of a three-year afterschool STEAM program in partnership with National Grid.

Importantly, the Museum saw an increase in admission and membership income, welcoming 418,000 visitors, a 12% increase over fiscal 2023. Numerous factors contributed to the increased attendance, including the “Winnie-the-Pooh” special attraction which was designed and built by Museum staff.

Throughout the year, the Museum continued to invest in its physical plant. Important improvements were made, including the installation of new HVAC equipment, a major overhaul of the flooring in Museum public spaces, and the update of important safety and security equipment. These improvements reflect a commitment to systematic preventive maintenance meant to ensure the preservation and safeguarding of the Museum’s 1890 building. The Museum also invested in its staff, filling new staff positions, and completing a market review of compensation, resulting in adjustments to Museum pay scales.

Careful management of expenses and capital continued to keep the Museum balance sheet in a strong position. The Museum took an aggressive stance on leveraging the current interest rate environment by investing excess cash in short-term investments vehicles. This strategy has proven to be very beneficial, allowing the Museum to realize a 17.8% increase in its investment portfolio valuation, after a spending draw of 4.5% and including new gifts.

The Museum’s commitment to helping children and families thrive is reflected in the Museum’s continued appeal as a compelling destination, offering unique opportunities to play, learn, and discover. This commitment, shared by management, staff, and the Board of Trustees ensures the Museum will continue as a beloved and indispensable asset to the community at large. The many positive efforts and accomplishments noted here, and in this report, resulted in a strong financial and operational year for the Museum. Thanks go to Museum staff, generous supporters, and the many partners who helped make this possible.