The Tate is receiving an additional £6 million in funding from the British Government this year, earmarked to help fund the operations at the Tate Modern. “Late last year the government in principle committed to an uplift in grant-in-aid to support the running of the new Tate Modern,” a Museum spokesman confirms. (more…)
London’s Royal Academy of Art has unveiled a £50 million expansion plan that will link the institution’s two buildings in the British capital’s Mayfair district. “You will be able to go from an exhibition in Burlington House to a lecture in Burlington Gardens through the vaults of the building,” says Sir David Chipperfield, who designed the project. “You will see the cast corridors, you will see where the schools have been all this time. It’s a small amount of architecture for a profound result.” (more…)
James Turrell is reportedly holding a fundraiser event at his remote Roden Crater land art project in Arizona, a private opportunity to tour the crater before it is complete that will cost $5,000 to $6,500 per ticket. (more…)
Art Basel has announced a new crowdfunding initiative, created in collaboration with Kickstarter, which will provide a platform for fundraising on art projects around the globe. The first round of grant proposals include collections to build new studio space at London’s Gasworks, a major restoration project by SculptureCenter, and more. (more…)
SFMoMA is reportedly close to reaching its $610 Million Fundraising goal, Bloomberg reports this week. The campaign, which is seeking funding for its new museum construction that will double the space for the space’s collection and will add several million to its endowment, has already reached 94% of its goal. “In 1995, we were the pioneers when SOMA was pretty run-down, and the tech boom followed us,” says director Neal Benezra “Our expansion will solidify the neighborhood as a cultural hub.” (more…)
Kehinde Wiley, via Art Observed
On Wednesday night, the Brooklyn Museum opened the doors for its annual Gala, bringing together a diverse group of artists, collectors and trustees to honor painter Kehinde Wiley, artist Jenny Holzer, and developer Jane Walentas.
In what may be the final piece of the puzzle to rescue the Detroit Institute of Arts collection from a potential auction by the city, the museum has made the commitment to raise $100 million in additional funds over the next 20 years. The donation would secure city pension funds, and in turn, hold the city to an agreement to transfer the legal title of ownership to the museum, effectively preserving it from any future sale. “Clearly this is going to be a challenge,” COO Annmarie Erickson said. “It’s an enormous amount of money, but we’ve proven over and over again that we are good at raising money. We’ll have to balance this effort with our need to raise endowment dollars and operational funding. But given that this will help move the bankruptcy along quickly, that it will help the pensioners (and) ensure that the DIA collection is safeguarded for the public, we have compelling arguments to take to donors.” (more…)
The Museum of Contemporary Art, following an embattled 2013 that saw the departure of Jeffrey Deitch and a potential purchase of the museum by LACMA, has reportedly reached its $100 Million Endowment fundraising goal. “This means we can take off the table any questions about MOCA’s future,” said board chair Maria Bell. “The remaining questions are exciting ones concerning our upcoming exhibitions.” (more…)
The Cooper-Hewitt National Design Museum in New York has received another $5 million allocation from the city to add to its fundraising target of $79 million for new renovations. The project will expand the building and its surrounding gardens. “The renovation will make design accessible to museumgoers with expanded gallery space, the restoration and preservation of historic rooms, innovative landscape design,” says cultural affairs commissioner Kate D. Levin. (more…)
The Marina Abramovic Institute has reached its target goal of $600,000 on the Kickstarter online funding platform, with two days left before the campaign closes. The funds will go to cover the design process for the museum, before it moves into its construction phase. In total, the project is anticipated to cost a total of $20 million. (more…)
In support of her ongoing Kickstarter campaign for the Marina Abramovic Institute, artist Marina Abramovic will log into popular website Reddit today, for one of the site’s ongoing “Ask Me Anything” sessions. The artist will open herself to questions from fans and users from around the world, submitted via the site’s simple message board structure. (more…)
Performance art pioneer Marina Abramovic has taken to crowd-sourced fundraising site Kickstarter in order to help finance the construction of the Marina Ambramovic Institute in Hudson, New York. The project goal of $600,000 will look to alive a portion of the final construction cost of $20 million, and has already raised over $26,000. Prizes available in exchange for donation include a webcam chat session with the artist, a special video game version of the Institute by artist Pippin Barr, or a ride in a brainwave controlled go-kart. (more…)
MOCA Director Jeffrey Deitch may step down from his position at the Los Angeles institution, the LA Weekly reports. Sources close to the museum have released information that Deitch will announce his departure on Wednesday, and that he is currently shopping for apartments in New York City. (more…)
Storming back from its brush with financial insolvency earlier this year, the Museum of Contemporary Art in Los Angeles has announced that it has raised over $50 Million in the past month, bringing its total endowment past $75 Million. The new contributions come from a number of prominent names, including new board member Bruce Karatz, Jeffrey Soros, and Eli Broad. “The level of support we have received is fantastic. There is a new energy and excitement about MOCA’s future and its leadership role in the art world,” says Eugenio Lopez, co-chair of the endowment campaign. (more…)
The National Gallery in Washington, DC has announced a renovation to its East Building that will add 12,260 square feet of exhibition space, as well as a rooftop sculpture garden. The new spaces will host a selection of modern art from the Gallery’s collection, including a room potentially dedicated to Mark Rothko. “This gift to the nation by these generous donors will enable us to exhibit more art from our ever-growing modern collection in spaces that will be at once spacious, airy and contemplative.” said director Earl A. Powell. (more…)
Artist Catherine Opie recently spoke with ArtInfo about the potential merger of LACMA and MOCA, and her views on the institutions’ futures. Opie left MOCA’s board of directors last year amid criticism of the museum’s administrative direction. “I know there’s a LACMA offer on the table and personally I think that would amazing,” Opie said. “LACMA has an amazing ability to raise money, Michael Govan has done an incredible job with that campus. If he feels like he can take that on and turn things around it would be incredible.” (more…)
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…)
