Wednesday, May 4, 2011

Waltons make $800 million gift to Crystal Bridges

Posted By on Wed, May 4, 2011 at 1:45 PM

ART COMING: Construction in progress at Crystal Bridges.

Leslie Newell Peacock, who's on a press tour of the progress on the Crystal Bridges Museum of American Art in Bentonville, reports major news from a news conference today.

The Walton Family Foundation has contributed $800 million to the museum. Of that, about $350 million will go to an endowment to meet operating needs, which are expected to run $16 to $20 million a year. $325 million will go to the general endowment and $125 million will go for future capital needs. All will be earning money for museum use.

Spokesmen declined to say how much the Walton family — Alice Walton, daughter of Sam Walton, has been the museum's driving force — has already spent on the museum, planning, construction and art acquistion. It is substantial —- tens, probably hundreds, of millions. Other contributions are expected from other family and philanthropic sources, both local and national, museum spokesmen said today. A statement from Alice Walton said the gift provided a foundation on which the museum could continue to grow.

The museum will open with about 400 paintings on display, but that is only a portion of the collection. The museum is acquiring constantly, reporters were told. Reporters mostly saw building construction, but none of the collection itself, save a new piece of sculpture.

SOME PIG: Stella, by Andre Harvey, on display at Crystal Bridges.

Tags: , , ,

Favorite

Speaking of...

Comments (20)

Showing 1-20 of 20

Add a comment

 
Subscribe to this thread:
Showing 1-20 of 20

Add a comment

More by Max Brantley

Readers also liked…

  • Eureka Springs City Council passes civil rights ordinance, sets stage for potential lawsuit

    The Eureka Springs City Council last night suspended the rules and hurriedly passed a civil rights ordinance that extends anti-discrimination protection to gay people in employment, housing and public accommodations. It sets up a potential legal challenge if the legislature completes passage of a law aimed at preserving legal discrimination against gay people.
    • Feb 10, 2015
  • The shame of Robert E. Lee/MLK Day in Arkansas

    This morning, I was a student ambassador for Philander Smith College and the Social Justice Institute at a House Committee that discussed Rep. Nate Bell’s proposal to divide a Robert E. Lee and Martin Luther King, Jr. holiday.
    • Feb 11, 2015
  • Arkansas Arts Center letter confirms exploration of potential relocation

    Leslie Peacock has news on Rock Candy about the study of a potential move of the Arkansas Arts Center to a new location on the riverfront in North Little Rock. In short, yes, it's among possibilities being studied.
    • Feb 12, 2015

Most Shared

Most Viewed

Most Recent Comments

Blogroll

 

© 2016 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation