The in Rhode Island has announced a $4.7 million endowment gift from an anonymous donor.
The gift, the largest ever received by the museum, will bolster its permanent endowment, which now stands at $7 million, and support the museum's mission to serve the Newport community through the arts, education, outreach initiatives, and historic preservation programming. In addition, a 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 various strategic initiatives in the near future.
"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," said museum board president Sandra Craig. "I am certain this gift is in honor of those who have steadfastly stood by this museum over the years and passionately believed in the power of art to transform lives."