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In 1903, the museum received a bequest of $20,000 from John Butler Talcott to acquire "original modern oil paintings either by native or foreign artists". Talcott's nephew was tonalist Allen Butler Talcott of the Old Lyme Art Colony.
In 1964 the Sanford B. D. Low Memorial Illustration Collection was inaugurated.
Douglas Hyland became executive director of the museum in 1999 after having been director of the San Antonio Museum.
The museum's $3.92 million in income for the fiscal year ending June 30, 2009, revenue was up slightly from the $3.86 million of the previous fiscal year.
During Hyland's tenure (as of 2009), the New Britain museum building was renovated, and the museum doubled its collection to 10,000 objects, doubled its full-time staff to 24 employees, doubled its docents to 100 and nearly tripled memberships from 1,200 to 3,500.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Wadsworth Atheneum Museum of Art | 1842 | $8.8M | 104 | 3 |
| Everson Museum of Art | 1968 | $2.3M | 45 | - |
| Whitney Museum of American Art | 1930 | $89.8M | 396 | 42 |
| The Phillips Collection | 1921 | $16.6M | 20 | 2 |
| National Museum of Women in the Arts | 1981 | $16.5M | 110 | - |
| Hudson River Museum | 1919 | $6.9M | 59 | - |
| The Butler Institute of American Art | 1917 | $2.0M | 30 | - |
| Denver Art Museum | 1893 | $78.3M | 100 | - |
| Brooklyn Museum | 1897 | $42.7M | 50 | 8 |
| Milwaukee Art Museum | 1888 | $50.0M | 100 | 13 |
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