The Andrew W. Mellon Foundation Pledges $10 Million Grant in Support of the Detroit Institute of Arts

EARL LEWIS, PRESIDENT, THE ANDREW W. MELLON FOUNDATION

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Jun 11, 2014, 12:00 ET

NEW YORK, June 11, 2014 /PRNewswire-USNewswire/ -- The Andrew W. Mellon Foundation has pledged a major grant to the Detroit Institute of Arts in support of the "Grand Bargain" that will enable the museum to hold its collections for the public in perpetuity. The Foundation is pleased to join with the J. Paul Getty Trust and other foundations, corporations, the State of Michigan, and individual donors in this innovative endeavor to preserve one of the nation's great cultural treasures. The Mellon Foundation will make a contribution of up to $10 million to the DIA's share of the Grand Bargain on the condition that the museum raises sufficient matching funds to meet its $100 million fundraising requirement.

Since its founding in 1969, the Foundation has assisted exemplary institutions that safeguard the nation's art and cultural heritage, with a firm commitment to museums as vital institutions of scholarship, education, and community engagement. As part of that history, the Foundation has long supported the integral importance of the DIA's collections to the museum's mission. By pledging this unusually large grant to a single institution, the Foundation recognizes the significance of the DIA for the ongoing recovery and renewal of Detroit, and affirms its confidence that the museum will remain critical to the cultural life of the city and the nation.

SOURCE The Andrew W. Mellon Foundation