A highly accurate and efficient spectral dynamic stiffness (SDS) formulation is presented for the broadband dynamic analysis of damped membranes and their assemblies with arbitrary boundary conditions (BCs). First, the general solution satisfying exactly the governing differential equations is derived, and any general BCs are represented by the modified Fourier series (MFS). Second, the modified Fourier coefficients of the force BCs are associated with those of the displacement BCs by eliminating the coefficients in the general solution, where the SDS matrix is formulated. The SDS elements can be assembled through line nodes to model complex geometries and arbitrary BCs can be described. Finally, highly reliable and efficient eigenvalue and dynamic response solution techniques are employed. The performance of the proposed method is illustrated by convergence and efficiency studies. Modal analysis and damped dynamic response analysis are performed for either individual membranes or complex membrane assemblies subjected to general BCs. This method is demonstrated to be more versatile than the classical dynamic stiffness method, and yields highly accurate results with reasonable computational efficiency by comparison with the FEM. Due to these excellent features, this method can serve as a powerful alternative tool for the fluid–structure interaction and broadband vibro-acoustic problems.