There have never been more members of the Indianapolis Museum of Art thanks to Charles Venable.
After tripling the museum’s membership since he was initially hired in 2012, the museum’s Board of Governors announced it is renewing Venable’s contract for another 10 years.
“We recognize and appreciate the many significant achievements Charles has made over the course of the past three and half years, including the development of a new 10-year strategic plan for the institution,” said Tom Hiatt, chair of the IMA’s Board of Governors.
In addition to raising the museum’s ownership from 5,000 to 15,000, Venable has also decreased IMA’s endowment draw in his four years in as CEO.
He did this through decisions like instituting a general admission policy and a new programming lineup, featuring blockbuster exhibitions like Dream Cars: Innovative Design, Visionary Ideas.
“Changing the trajectory of any institution takes commitment, hard work and time,” Hiatt said in the release. “The other members of the Board and I are confident that Charles and the leadership team he has recruited have set the IMA on the path to a brilliant — and sustainable — future.”
When he took the job, the endowment draw was at 8 percent but has since dropped to 5.8 percent, meaning the IMA is taking less and less money from its endowment for operating funds. The goal is to bring that number down to 5.5 percent by the end of the year.
Venable did the same at his previous job at the Speed Art Museum, and was one of the main reasons why he was initially hired by the IMA, according to the release.
In his time at the IMA, Venable has also strengthened the relationship between the museum and the surrounding community. He created the ARTx Mobile, which is essentially a mobile version of the IMA that gives the museum a presence throughout the surrounding neighborhood.
Venable’s new contract will last until Jan. 1, 2026.
“I am thrilled and humbled to be asked to lead this great institution for another decade,” Venable said in the release. “Over the past three and a half years we have made much progress. I look forward to continuing the great work we now do and to executing new initiatives consistent with our new strategic plan.”
Michael Hughes
