The Making of a Masterpiece
Over the past decade, the Museum of Fine Arts has raised more than $500 million as part of an ambitious plan to reinvent itself. This month, the public finally gets to see what a half-billion dollars gets you these days.
BY THE NUMBERS
In just seven years, the MFA raised an unprecedented (and jaw-dropping) amount of money for its “Building the New MFA” campaign. Where all that cash came from — and where it went.
$504 million was raised from 2001 to 2008.
$41 million of the total donations came from foundations.
$35 million from corporations.
$11 million from government grants.
$2.1 million from museum staff.
$415 million from individuals. Two thirds, or $268 million, of the $415 million came from just 92 people, the MFA’s trustees.
$345 million went to construction (including the new Arts of the Americas Wing, the restored Fenway and Huntington Avenue entrances, and an expansive central courtyard that boasts a 63-foot-high glass ceiling).
$47 million to annual operating expenses (including staff payroll, maintenance, and programming).
$112 million to the museum’s endowment.
But that’s not all… $214 million more in art and cash has been donated through the separate (and ongoing) Gifts of Art campaign.
THE BIG SPENDERS
$50 million came from a single anonymous donor.
$25 million (at least) each from individual donations by George D. and Margo Behrakis, Joyce and Edward Linde, and the Carl and Ruth Shapiro Family Foundation.
$15 million from Bank of America, which earned the company naming rights to the MFA’s Huntington Avenue plaza.
$10 million (at least) each from individual donations by Barbara and Ted Alfond, the Estate of Roberta E. Logie, and two anonymous donors.
$10 million from a donation by State Street Corporation, which earned the company naming rights to the MFA’s Fenway entrance.
$5 million from the Calderwood Charitable Foundation.