Spencer stood down as treasurer and member of the board of the Conservative Party in October 2010.
He has been a school director of the new Eleventh Ward for several years, and also served as treasurer of the board.
He is also the treasurer of the board of Emerson College in Boston.
With the granting of a state charter in the latter year, Packard became treasurer of the board of trustees.
"We did the whole thing over very simply," said Laurie Winfrey Shnayerson, treasurer of the board, who has a picture editing and research company.
His grandfather Mendel Gottesman was the treasurer of the board from 1922 until his death in 1942.
Jon Rotenstreich, a real-estate investor and the treasurer of the board, attributed the financial and staffing problems to the museum's being an "artistic institution."
Jon Forster, the 39-year-old treasurer of the board, found he had to give up a sales effort last fall because of lack of buyer interest.
Diana Cort, treasurer of the board, said that everyone felt "duped."
He became treasurer of the board in 1955, while still in his early 30's; executive vice president in 1965, and president in 1968.