Oklahoma City National Memorial Foundation Market Research Report

Background

The Oklahoma City National Memorial Foundation is a private non-profit organization dedicated to honoring the victims, survivors, and all those affected by the 1995 bombing of the Alfred P. Murrah Federal Building in Oklahoma City. Established in 1995, the Foundation's mission is to educate visitors about the impact of violence, inform about events surrounding the bombing, and inspire hope and healing through lessons learned by those affected. The Memorial and Museum serve as a testament to the resilience and unity of the community in the face of tragedy.

Key Strategic Focus

The Foundation's strategic focus encompasses several core objectives:

• Commemoration and Education: Preserving the history of the bombing and its aftermath to educate the public on the consequences of violence and the importance of resilience.

• Visitor Engagement: Enhancing the visitor experience through interactive exhibits, educational programs, and community outreach initiatives.

• Sustainability and Growth: Ensuring financial stability through diverse revenue streams, including admissions, private donations, and fundraising events.

Financials and Funding

The Foundation operates as a self-sustaining entity without annual operating funds from federal, state, or local governments. Its revenue streams include:

• Museum Admissions: Generating income from ticket sales to the Memorial Museum.

• Store Sales: Revenue from the Museum Store.

• Fundraising Events: Proceeds from events like the Oklahoma City Memorial Marathon.

• Private Donations and Endowment Earnings: Contributions from individuals and organizations, along with earnings from the Foundation's endowment.

In 2023, the Foundation reported:

• Total Revenue: $3,402,555

• Total Expenses: $8,611,155

• Total Assets: $35,286,442

• Net Assets: $34,946,665

The discrepancy between revenue and expenses is addressed through strategic fundraising and endowment management to ensure the Foundation's financial health.

Pipeline Development

The Foundation is undertaking a significant expansion project titled "Foreword," a $12 million addition to the Memorial Museum. This expansion aims to:

• Enhance Visitor Experience: Provide additional space for exhibits and educational programs.

• Incorporate Salvaged Artifacts: Display granite and artwork salvaged from the Murrah Building to deepen the connection to the site's history.

• Introduce New Educational Spaces: Include a Civics Lab and expanded orientation areas to engage visitors in discussions about democracy and civic responsibility.

Construction is scheduled to begin in late 2025, with completion anticipated by April 2027.

Technological Platform and Innovation

The Memorial Museum employs several technological platforms and innovative methods to enhance visitor engagement:

• Interactive Exhibits: Utilizing multimedia presentations, including video footage and interactive displays, to narrate the story of the bombing and its aftermath.

• Oral Histories: Incorporating first-person accounts from survivors, first responders, and victims' families to provide personal perspectives on the events.

• Digital Archives: Maintaining an extensive collection of artifacts and documents accessible to researchers and the public, facilitating ongoing education and remembrance.

Leadership Team

The Foundation is led by a dedicated team committed to its mission:

• Kari F. Watkins: President and CEO

• Professional Background: Joined the Foundation in 1996 as its first employee, leading the organization through significant growth and development.

• Contributions: Instrumental in the establishment of the Memorial Museum and the ongoing expansion projects.

• Sarah Finley: Chief Financial Officer

• Professional Background: Oversees financial operations, ensuring the Foundation's fiscal responsibility and sustainability.

• Contributions: Plays a key role in strategic financial planning and management.

• Lesli Massad: Director of Philanthropy

• Professional Background: Leads fundraising initiatives and donor relations.

• Contributions: Essential in securing private donations and managing the Foundation's endowment.

Competitor Profile

Market Insights and Dynamics

The market for historical and memorial museums is characterized by:

• Visitor Engagement: Attracting a diverse audience interested in history, education, and cultural experiences.

• Educational Programs: Offering programs that cater to students, educators, and the general public.

• Community Impact: Serving as a resource for local communities and contributing to tourism and local economies.

Competitor Analysis

Key competitors in the region include:

• National Cowboy & Western Heritage Museum: Focuses on Western history and culture, attracting a broad audience interested in American heritage.

• Oklahoma City Museum of Art: Offers a diverse collection of art, providing cultural enrichment and educational programs.

The Oklahoma City National Memorial Foundation differentiates itself by its unique focus on a pivotal historical event and its commitment to education and remembrance.

Strategic Collaborations and Partnerships

The Foundation collaborates with various organizations to enhance its offerings:

• Inasmuch Foundation: Provides financial support and grants, contributing to the Foundation's expansion projects and educational programs.

• National Park Service: Assists in interpreting the Memorial for visitors, ensuring historical accuracy and educational value.

Operational Insights

The Foundation's strategic considerations include:

• Visitor Experience: Continuously enhancing exhibits and programs to engage visitors and provide meaningful educational experiences.

• Financial Sustainability: Diversifying revenue streams to maintain independence and financial health.

• Community Engagement: Strengthening ties with local communities and organizations to foster support and collaboration.

Strategic Opportunities and Future Directions

The Foundation's strategic roadmap includes:

• Expansion Projects: Completing the "Foreword" addition to the Memorial Museum to enhance visitor engagement and educational offerings.

• Digital Initiatives: Expanding online resources and virtual tours to reach a global audience.

• Community Outreach: Increasing educational programs and partnerships with local schools and organizations to deepen community involvement.

Contact Information

• Official Website: Oklahoma City National Memorial Foundation

• Social Media Profiles:

• Facebook: @OKCNationalMemorial

• Twitter: @OKCMemorial

• Instagram: @okcmemorial

Note: Specific email addresses and physical addresses are not provided in this report.