This chapter addresses a practical managerial problem—how to design a performance framework for private art foundations—and aims to construct a model using balanced scorecard (BSC) architecture, which integrates quantitative and qualitative criteria and examines performance and accountability expectations from both an internal perspective and an external, public-oriented perspective. In this way
... [Show full abstract] philanthropic funders can better define, assess, and improve their effectiveness—and, as a result, their intended impact. The application of the balanced scorecard approach to a private museum is discussed in detail and conclusions regarding the use of the balanced scorecard in a not-for-profit organization are presented. The appendix gathers together interviews with renowned museum directors and sheds light on their attitudes toward performance assessment. The interviewees are: Julia Peyton-Jones (Co-Director, Serpentine Gallery), Lars Nittve (Director, M+), James Bradburne (Director, Pinacoteca di Brera) and Elizabeth Macgregor (Director, MCA Australia).