Waltons make $800 million gift to Crystal Bridges | Arkansas Blog

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: , , ,

From the ArkTimes store

Favorite

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…

  • The long and winding road: No exception yet for 30 Crossing

    The Arkansas highway department's representative on the Metroplan board of directors told the board today that the department is requesting an exception to the planning agency's cap on six lanes for its 30 Crossing project to widen Interstate 30 from six to 10 (and more) lanes.
    • Jun 29, 2016
  • Today in Trump: Obstruction of justice anyone?

    It's the New York Times with the news today. Fired FBI Director James Comey kept notes of his talks with Donald Trump. A memo he wrote in February after a meeting with Trump said the president asked him to shut down the investigation into Michael Flynn, his former national security adviser.
    • May 16, 2017
  • Arkansas Times Recommends: A Literary Edition

    Arkansas Times Recommends is a series in which Times staff members (or whoever happens to be around at the time) highlight things we've been enjoying this week.
    • Jul 1, 2016

Most Shared

  • A mayor stands up against freeway widening. No. Not in Little Rock.

    Another booming city, Indianapolis, fights ever wider urban freeways. Meanwhile, back in Little Rock .....
  • In the margins

    A rediscovered violin concerto brings an oft-forgotten composer into the limelight.
  • Donald Trump is historically unpopular — and not necessarily where you think

    My colleagues John Ray and Jesse Bacon and I estimate, in the first analysis of its kind for the 2018 election season, that the president's waning popularity isn't limited to coastal cities and states. The erosion of his electoral coalition has spread to The Natural State, extending far beyond the college towns and urban centers that voted for Hillary Clinton in 2016. From El Dorado to Sherwood, Fayetteville to Hot Springs, the president's approval rating is waning.
  • Arkansans join House vote to gut Americans with Disabilities Act

    Despite fierce protests from disabled people, the U.S. House voted today, mostly on party lines, to make it harder to sue businesses for violating the Americans with Disabilities Act. Of course Arkansas congressmen were on the wrong side.

Most Viewed

Most Recent Comments

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation