Philadelphia Museum of Art Faces Record Deficits

The Philadelphia Museum of Art is running record deficits, drawing on unrestricted cash and reserves to cover shortfalls. The museum's financial challenges are expected to persist in the coming years, according to a report by the Philadelphia Inquirer. The institution is using a pool of money that includes cash and quasi-endowment funds not restricted by donors for specific purposes. No further details on the scale of deficits or specific causes were provided in the excerpt.