2017-01-05 / Front Page

A Director's Dream Gift

There is cause for jubilation in the halls of the Newport Art Museum this week, as members of the Board and staff welcome in the new year, having just received a gift of nearly $5 million–the largest in the museum’s 105-year history. Called “transformative,” not only does the amount help secure NAM’s plans and goals for the future, but it also “recognizes and supports the value of the museum’s century-long dedication to serving its community through the arts, education, outreach, and historic preservation.” Given anonymously, the gift brings the museum’s total endowment up to $7 million. According to Board President Sandra Craig, the “exceptionally generous gift promotes the financial integrity of the museum, [and] is a tribute to the dedicated individuals, past and present, who have given their time, talent and treasure to this historic institution.” The Board has earmarked the entire $4.7 million for NAM’s endowment, with a view to “inspiring philanthropy in others for the museum and its mission.” An additional amount of $50,000 from the same donor will be placed into a temporary restricted fund within the museum’s general operating account and will be used to support various strategic initiatives in the near future. “This is the year-end gift nonprofit directors dream of,” said NAM Executive Director Norah Diedrich. (Photo by Rich Hudson)

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