Museums often receive donations from diverse sources.

Museums often receive donations from diverse sources. These reasons behind these donations tends to be different from one individual to another. According to some data, there are three significant reasons why millennials donate to museums. First, some value personal collections. Such individuals donate since they like what a museum works toward and stands for. Second, cultural organizations “might not be meeting the millennial generation where they are”. Most millennials are on digital platforms and donating to museums is their way of reaching out to cultural organizations.

Finally, museums are not actively asking the millennials to donate, which makes the latter feel left out and willing to donate.However, despite the reasons given above, that museums ought to have clearer policies on donations compared to what is presently available. Even though the management bodies of museums tend to be aware of the issues and challenges related to donations, the available procedures and policies tend to be insufficiently detailed and out of date.

This causes loopholes that can be manipulated by some other or the museum for selfish gains. Some issues that arise in this case include money laundering and inappropriate donations. Some donations can be done with ill motives. Therefore, museums need to focus on risk management processes, governance, and stakeholder management to ensure they come up with policies that adequately regulate donations. Failure to do so can result in museums receiving donations from diverse with ulterior motives. In turn, this can give such museums bad reputations that can deter good from getting involved with them.