In 2011, the museum's annual budget was at $24.6 million, and endowment income was a total $4.3 million.

Mr. Philbrook said the board planned to build a larger performance space, financed through endowment income and fund-raising.

And even then many universities need endowment income to break even.

Its annual appropriation from parliament is supplemented by endowment income, donations, and bequests.

"There was enhanced endowment income because of increases in the market last year," Mr. Rosenthal said.

It cost him £11,000 on capital cost and an endowment income of over £1,300.

Tax the endowment income of universities and link the endowment tax to tuition rates.

Harvard's endowment income last year provided 31 percent of its $2.4 billion operating budget, up from 19 percent in 1992.

Management fees are so excessive they eat up all the endowment income, he said.

The city owns the buildings and maintains them, but endowment income and gifts from donors supply the lion's share of the rest.