How the TMSV is funded
The activities of the TMSV are financed by membership subscriptions, museum entrance fees, and donations. Several grants have been received from both State and Federal Government programs for specific projects related to museum development. The TMSV currently has no paid staff, all positions being filled by volunteers.
As the TMSV is a non-profit organisation, all income goes straight back into museum development, and all private donations to the TMSV are tax deductible.
One of the major policy tenets of the current TMSV Board is to closely manage the TMSVs finances and not be in a position of debt. For over ten years from the mid-1980s the TMSV was in a state of substantial indebtedness. This resulted in much of the available capital being consumed in servicing the interest bill without making inroads on the capital component of the borrowings, and as a result development of the museum was severely restricted. Between 1994 and 1998 the Board through careful management and self sacrifice has managed to trade out of this position of indebtedness.
Content copyright © Russell Jones 2001-3. Reproduced with permission.