Art brings the money: yesterday SFMOMA announced they had raised $250 million toward their $480 million campaign to build a new wing. This is ostensibly only a few months after Gap founder Don Fisher gave up on ambitious plans to put up a stark new Presidio building to house his collection — instead practically gifting it to the SFMOMA, a decision generally viewed as win-win given the losing situation on the museum. The Fisher art collection, which initially was promised for at least 25 years to the SFMOMA, also got upgraded to a 100-year loan. For the 100,000 square feet of public and gallery space and 1,100 pieces of art, the Wall Street Journal reports that while no donors were announced along with the $250 million, "the donors presumably include the Fisher family and the museum's chairman, Charles Schwab, who had long sought to bring the Fisher collection to SFMoMA." A hundred million of the $250 mil will go into the endowment piggy bank, which will double the account balance. Next up: an international headhunt to find an architect by fall, and a grand opening by 2016.
· SFMoMA Raises $250 Million for New Wing [WSJ]
· SFMOMA says it is more than halfway home... [Culture Monster]
· SFMOMA's Planned Expansion Is 5 to 6 Years Away... Perhaps! [Curbed SF]
· SFMOMA Hits It Big, Scores Don Fisher's Art Collection [Curbed SF]