although it was a non profit institution , during the early 20th century the corcoran served as the nations unofficial national art gallery , even after esterbblishement of the federally subsidized national gallery of art in 1937 , it continued to enjoy the support of many washingtoians, in 1989, the corcoran was engulfed in controversy when the dirctor cancelled an exhibit of works by photographer robert mapplethrope in the face of political controversy about its content demonstrators gathered outside the gallery to protest the decision , some artist and donors expressed diappointment , some corcoran directors resigned and the gallerys reputation was badly damaged

Question

(1) which principles of financial management discussed are most relevant to the case of corcoran , plesase explain with details

the corcoran gallary of art was established by wasington , dc businessman williams willson corcoran an early collector of contemporary american art, the gallery was opened in1874 in a building that the corcoran had constructed and was moved to another building , near the white house in 1897 , built to house an expanded collection and the recently established corcoran school of art