Two years ago, the Folk Art Museum in New York City was on the brink of closure due to its poor financial standing. Most of the museum’s troubles stemmed from a $32 million construction project that placed a flagship building next door to the Museum of Modern Art on West 53rd Street in Manhattan. After the project drew to a close in 2001, the Folk Art Museum struggled to pay off their debt to the Trust for Cultural Resources and in 2009 the institution defaulted on its payments. Desperate, the Folk Art Museum sold their flagship building and moved into a smaller space and drastically reduced its budget.
Now, after some major sacrifices, it appears that the Folk Art Museum has regained its footing. Attendance is expected to reach 80,000 this fiscal year, which ends June 30, 2013; last year the Folk Art Museum welcomed 66,000 patrons. A number of major donors are back on board with the museum including the Blanchette Hooker Rockefeller Fund, which recently gifted $25,000 to the institution. The Folk Art Museum will also participate in this summer’s highly anticipated Venice Biennale by sending an artwork from its collection to the show.
The Folk Art Museum has been strengthening its relationships with other institutions through collaborative exhibitions. The museum is currently hosting an exhibition of William Matthew Prior (1806-1873) oil paintings titled Artist and Visionary: William Matthew Prior Revealed (on view through May 26, 2013), which was organized by the Fenimore Art Museum is Cooperstown, NY. The exhibition Bill Traylor: Drawings from the Collections of the High Museum of Art and the Montgomery Museum of Fine Arts, which features a range of works by the self-taught artist, Bill Traylor (1854-1949), will open on June 11 and run through September 22, 2013.
