The Flood Museum
The funding options currently available to build The Flood Museum include:
A company or individual with the resources to do so, would acquire the building and provide an agreement for the museum to use it. The purchase price is $45,000. The museum would be responsible for insurance and taxes, and would have the ability at a future date to purchase the building. The museum would also be responsible for all improvements to allow it to function as a museum, and maintenance required. This would provide a secure position for the buyer, since the building’s value will only increase at this point. This would also allow existing museum funds to be applied to renovation immediately.
Several (up to six) companies or individuals would sponsor exhibits. These sponsorships would involve a $10,000 fee. These would be founding sponsors, and would not involve a renewal fee. This relationship would identify the sponsor with the exhibit, by placing signage at the entrance to the exhibit (ie “Company X presents Noah’s World”). Additional signage would appear on the building exterior, and at the ticket counter. Acknowledgement would also be made in print brochures, and video productions of the museum. This would allow the fee to be recorded as a marketing cost for the sponsor, and would give the sponsor a perpetual presence in Nauvoo.
Individual or group contributions. These would be in the form of cash, in amounts from $100 to $1,000 (or more). Several contributions of this type have already been received, and efforts are underway to reach even more potential contributors.
Sale of merchandise. Books, T-Shirts, etc. are being sold, with the profits going to the museum construction.
Governmental participation through Tax Increment Financing (TIF) funds. Discussions have already begun with City of Nauvoo officials to solicit participation from the City through the use of TIF funds. Discussions have been positive.
This combination of funding allows The Flood Museum to succeed.
This would provide the estimated $155,000 needed to open the museum. The initial requirement for funds is significant, to allow the project to commence in earnest. The balance of funds would be obtained in the six-month period required for renovation, with a projected open date of late June, 2019. If any particular category exceeds it's projected funding, the need for funds in other categories would be reduced. Conversely, if any category does not achieve the necessary funding, other categories would have increased responsibility.