The Corcoran Gallery of Art has hired Toronto-based cultural strategy consultants Lord Cultural Resources to reverse its dwindling fortunes.
According to articles first on Artinfo.com, then yesterday in the Washington Post, The Corcoran has been running a yearly deficit and relying on its endowment to pay for that deficit, a situation the Corcoran’s president and director, Fred Bollerer, described as untenable in an interview with the Post. “Almost any nonprofit organization that operates with a deficit has to use its fundraising money to cover every year is at risk,” he said.
The Corcoran holds a large number of photographs in its permanent collection, and has curated and hosted many photography exhibitions. Since 2005 it has shown the work of photographers like Edward Burtynsky, William Eggleston, Eadweard Muybridge and Richard Avedon. The Corcoran has also shown several photographic surveys and has exhibited important private collections.
The Corcoran offers educational opportunities through the Corcoran College of Art and Design. Bollerer’s comments to the Washington Post hinted that focusing more heavily on the college might be a way forward for The Corcoran.