Salem, MA’s Peabody Essex Museum has quietly risen up the ranks to become one of the United States’ top 20 art museums for gallery space and endowment, thanks in part to a new revenue model that focuses on strengthening the museum’s endowment over physical expansion.  Led by director Dan L. Monroe, the museum has also shifted its focus towards the local community, and away from occasionally unreliable streams of tourists.  “That gives you a dynamic relationship with the community and the capability to develop a support base,” Mr. Monroe says. (more…)