Newport Art Museum receives $5M gift

THE NEWPORT Art Museum has received a gift of nearly $5 million, the largest donation in its history, from an anonymous benefactor.
THE NEWPORT Art Museum has received a gift of nearly $5 million, the largest donation in its history, from an anonymous benefactor.

NEWPORT – The Newport Art Museum has received a gift of nearly $5 million, the largest donation in its history, from an anonymous benefactor.

The museum’s Board of Trustees designated the entire $4,700,000 as a donation to its permanent endowment with the hope of inspiring philanthropy in others for the museum and its mission, according to a Tuesday news release about the donation. The museum’s total endowment now stands at $7 million.

An additional gift of $50,000 from the same donor will be placed into a temporarily restricted fund within the museum’s general operating account and be used to support future strategic initiatives.

“This exceptionally generous gift, which promotes the financial integrity of the museum, is a tribute to the dedicated individuals, past and present, who have given their time, talent and treasure to this historic institution,” Sandra Craig, the museum’s board president, said in a statement.

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Executive Director Norah Diedrich said an updated strategic plan is underway for the museum, which was founded in 1912, as well as “innovative programming, partnerships and constituent engagement initiatives designed to have lasting impact.”

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