Barnes Foundation Tops $200 Million Capital Campaign Goal
Barnes Foundation Surpasses $200 Million Campaign Goal
The Barnes Foundation in Merion, Pennsylvania, has announced that it has exceeded its fundraising campaign target of $200 million.
During the multiyear campaign, the foundation received several large gifts to support construction of a new home for its world-class collection of Impressionist and early Modernist art on Philadelphia's Benjamin Franklin Parkway, including $30 million from the Annenberg Foundation, $20 million from the Pew Charitable Trusts, $15 million from Marguerite and H.F. "Gerry" Lenfest, and $10 million each from the Neubauer Family and William Penn foundations. According to the Philadelphia Inquirer, the foundation also received contributions of between $1.5 million and $9.9 million from eight donors: the Horace W. Goldsmith, Andrew W. Mellon, and Wells Fargo foundations; the Comcast Foundation and its parent company; PNC Bank; and Dorrance H. Hamilton, Aileen and Brian Roberts, and an anonymous donor. In addition, the foundation received $47 million in state funds, an additional twenty-four gifts ranging between $500,000 and $1.5 million, and thirty-four gifts of between $25,000 and $499,999.
The majority of the funds raised — $150 million — will be used to build the new facility, which is scheduled to open in 2012. The remaining funds will be added to the foundation's endowment.
"The Barnes has long been handicapped by the lack of an adequate endowment, and this initial endowment is a critical step forward," said Barnes Foundation executive director and president Derek Gillman. "This inspiring show of support will allow us to continue our core educational programs, while making the collection so much more accessible to an expanded audience of visitors and students, who are eager to explore the unique Barnes perspective and experience."