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A closed sign outside a museum in New York City. Photo: Cindy Ord/Getty Images

33% of America's museums are at a "significant risk" of closing permanently by next fall due to economic distress from coronavirus-related shutdowns, an American Alliance of Museums survey has found.

Why it matters: Ticket and gift shop sales, school trips and museum events are primary sources of funding, AAM President and CEO Laura Lott told NPR.

By the numbers: The 760 museums surveyed included aquariums, botanical gardens, art museums and science centers. More than 40% surveyed were history museums, historic houses and historical societies.

  • 87% said they had 12 months or less of financial operating reserves.
  • 56% said they had resources to cover less than six months of operations.
"Museums support 726,000 direct and indirect jobs and contribute $50 billion each year to the economy. Of the museums able to reopen, over 40% plan to do so with reduced staff and will need to spend additional funds to ensure their ability to reopen safely."
— AAM said in a statement

Methodology: The sample of 760 museums provides a confidence level of 95% with a confidence interval of 3.15% for the population of AAM member museums.

Go deeper

Updated 20 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Vaccines: FDA approves Pfizer boosters for high-risk individuals, people 65 and up — Team USA to mandate vaccine for Winter Olympic hopefuls — U.S. to buy 500 million more Pfizer doses to share with the world.
  2. Health: Some experts see signs of hope as cases fall — WHO: Nearly 1 in 4 Afghan COVID hospitals shut after Taliban takeover — D.C. goes further than area counties with vaccine mandates.
  3. Politics: Bolsonaro isolating after health minister tests positive at UN summit — United Airlines says 97% of U.S. employees fully vaccinated — Mormon Church to mandate masks in temples.
  4. Education: Asymptomatic Florida students exposed to COVID no longer have to quarantine — Education Department investigating Texas mask mandate ban — D.C. schools to require teachers, staff to receive vaccine without testing option.
  5. Variant tracker: Where different strains are spreading.

GOP Sen. Chuck Grassley announces run for re-election

Photo: Greg Nash/The Hill/Bloomberg via Getty Images

Sen. Chuck Grassley (R-Iowa), the longest-serving Senate Republican, announced on Friday that he's running for re-election in 2022.

Why it matters: The GOP is looking to regain control of both chambers of Congress in the upcoming midterm elections. Several Republicans had urged the 88-year-old senator to run to avoid another retirement after five incumbent senators said they wouldn't seek re-election.

China deems all cryptocurrency transactions illegal

A person walking past China's central bank in Beijing in August 2007. Photo: Teh Eng Koon/AFP via Getty Images

China's central bank declared on Friday that all cryptocurrencies are illegal, banning crypto-related transactions and cryptocurrency mining, according to Reuters.

Why it matters: China's government is now following through with its goal of cracking down on unofficial virtual currencies, which it has said are a financial, social and national security risk and a contributor to global warming.