Title
AUTHORIZATION TO CHANGE THE GENERAL ADMISSION FEE
FOR THE ART INSTITUTE OF CHICAGO
Body
To: The Honorable Board of Commissioners of the Chicago Park District
I. Recommendation
It is recommended that the Board of Commissioners adopt an order authorizing an increase in the general admission fees of the Art Institute of Chicago effective June 15, 2015. The proposed increase is $2 for Chicago residents (new rate of $20), Illinois residents (new rate of $22) and out-of-state visitors (new rate of $25). The Art Institute will continue to offer discounts for seniors and students with a proposed new price of $14 for Chicago residents and $16 for Illinois residents. It has been more than 2 years since the Institute's last request for an increase to its admission ticket.
II. Explanation
The Art Institute of Chicago is a premier cultural institution that brings an internationally renowned collection to life for over 1.4 million visitors each year. The Art Institute presents a vibrant program of approximately 38 special exhibitions and offers a strong educational program that touches individuals both inside and outside the Institute and out in the community.
The requested rate increase allows the Institute to cover inflationary increases in wages and supports its ongoing commitment to serve the public through access to its world class collection and a strong educational program for children, families, teachers, and adults.
Even with strong expense controls, the Institute has inflationary pressures associated with any other organization. With almost 50% of its costs related to wages and benefits, a small salary increase can result in increased costs of almost $1 million. Accordingly, periodic increases in the price of admission are necessary and appropriate to maintain a high level of excellence and service.
The Art Institute is free during 52 days each year, thus the Institute ensures that all Illinois residents regardless of means have an ab...
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