Philadelphia Museum Seeks Additional $50-Million
May 17, 2006 | Read Time: 1 minute
Soon after the Pew Charitable Trusts announced that the Barnes Foundation had reached its goal of raising $150-million to build a new facility in downtown Philadelphia, the Barnes Foundation’s board voted on Monday to increase the campaign’s goal by $50-million, reports the Philadelphia Inquirer.
The Pew Trusts has been helping to manage the fund-raising effort and has contributed $20-million itself so far.
The Barnes Foundation, which successfully fought a courtroom battle in 2004 to prohibit the museum from moving from its current suburban location, has already raised $150-million in its fund-raising campaign: $100-million to construct a new building and $50-million to augment the group’s endowment.
