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+-- Thread: Colonial Williamsburg in financial difficulty (/showthread.php?tid=7331557)
RE: Colonial Williamsburg in financial difficulty - Bill Holt - 07-09-2017
We have been twice, first time with small kids maybe 30 yrs ago. Rifle making, shoe cobbler, wagon wheel making rated high on my list. Then five or six years ago we went with some friends. The furniture repair shop was by far the biggest hit for me. I also paid closer attention to the history lessons. It was expensive but I felt I received good value.
RE: Colonial Williamsburg in financial difficulty - Steve N - 07-09-2017
LOML and I love the museums there DeWitt Wallace, and Abby Aldrich Rockefeller are 2 of our favorite museums anywhere. They have had problems for a very long time, and IMHO outsourcing the entire works would have it running for a long time, based on admissions while we have visited.
Every time we are there we overhear workers talking about low pay, poor benefits, while management and "the board" make a lot of cash, and have no cost to them bene's. I have no way to verify the veracity, but it is a constant theme, as one of the most often voiced questions or statements like "it must be great to work here, seeing that you people are all so skilled I imagine you make a very good salary." That will get the staff moaning started. It has been consistent across the grounds at Williamsburg, Jamestown, and Yorktown.
RE: Colonial Williamsburg in financial difficulty - Steve N - 07-09-2017
(07-09-2017, 06:17 PM)Bill Holt Wrote: It was expensive but I felt I received good value.
We have always felt so too. Vacations to any tourist attractions are expensive. Here we always feel thoroughly entertained.
RE: Colonial Williamsburg in financial difficulty - Phil Thien - 07-09-2017
(07-09-2017, 02:22 PM)Youngbuck Wrote: "For a variety of reasons – business decisions made in years past, less American history being taught in schools, changing times and tastes that cause us to attract half the visitors we did 30 years ago – the Foundation loses significant amounts of money every year. In fact, in 2014, we lost a total of $62 million, or $176,000 every day. This is not acceptable, and it is not sustainable."-quote from President of CW Mitchell Reiss
$176k/day in the red?
I'd love to get a look at that financials.
RE: Colonial Williamsburg in financial difficulty - AHill - 07-09-2017
(07-09-2017, 07:31 PM)Phil Thien Wrote: $176k/day in the red?
I'd love to get a look at that financials.
That was my first reaction. I have a feeling they are paying some of the key directors or staff way too much money. I live in a town of 161,000 and the annual school district budget is about half that. Something's real fishy with Colonial Williamsburg finances.
RE: Colonial Williamsburg in financial difficulty - Phil Thien - 07-09-2017
(07-09-2017, 08:15 PM)AHill Wrote: That was my first reaction. I have a feeling they are paying some of the key directors or staff way too much money. I live in a town of 161,000 and the annual school district budget is about half that. Something's real fishy with Colonial Williamsburg finances.
I would guess more something like a pension scam or a wonky labor contract or something along those lines.
RE: Colonial Williamsburg in financial difficulty - Steve N - 07-09-2017
(07-09-2017, 07:31 PM)Phil Thien Wrote: $176k/day in the red?
I'd love to get a look at that financials.
Not complete but here is 2014 snapshot
We have been a number of times, and every trip someone staffing the work areas will be telling someone asking about $$$$$$ that the workers don't make that much, pieces I was able to find were from 2011 and 45K was average for the talent. Anyhow they are always saying that management, and "the board" make the big bux, and have no cost to them bene's. This is the same story, over a 35 year period. They need to be taken over by a real business to run it, this goldmine for the selected few is a way to lose a treasure.
RE: Colonial Williamsburg in financial difficulty - Stwood_ - 07-10-2017
Possible a tax deduction for the big donors
RE: Colonial Williamsburg in financial difficulty - AHill - 07-10-2017
(07-09-2017, 09:37 PM)Steve N Wrote: Not complete but here is 2014 snapshot
We have been a number of times, and every trip someone staffing the work areas will be telling someone asking about $$$$$$ that the workers don't make that much, pieces I was able to find were from 2011 and 45K was average for the talent. Anyhow they are always saying that management, and "the board" make the big bux, and have no cost to them bene's. This is the same story, over a 35 year period. They need to be taken over by a real business to run it, this goldmine for the selected few is a way to lose a treasure.
I looked at the return and they claim $67M in salaries in 2015. If you assume half the 2031 employees make the $45K and the other half make 1/4 of that (part-time), then the 41 board members average around $285K per member. I agree, the place needs to be taken over by a group that runs it like a business.
RE: Colonial Williamsburg in financial difficulty - EricU - 07-10-2017
I'd say they need to be taken over by a group that doesn't run it like a business, but the charitable organization that it is. Because that's what top-heavy salary structure looks like to me, it's pretty common in business nowadays, and it's spreading like a cancer to other organizations where it shouldn't be that way.