The Portland Museum of Art in Maine announced today that New York–based philanthropists and collectors Judy and Leonard Lauder will provide the institution with a $5 million donation that is intended to inspire others to give, the museum announced today in a press release. It’s the largest matching donation in the history of the institution. Through its Focused Endowment Initiative, the PMA aims to raise $15 million.
To honor the gift, the museum’s renamed its directorship the Judy and Leonard Lauder Director of the Portland Museum of Art.
Here’s the statement from the Lauders, the major American museum benefactors:
We are overjoyed to be able to make this gift to the Portland Museum of Art in recognition of its sterling leadership—from Director Mark Bessire and Board Chairman Jeffrey Kane—to the extraordinary board, museum staff, and volunteers, who have collectively made the Portland Museum of Art one of the leading regional art museums in the United States. While we recognize the importance of buildings, we also recognize the tremendous importance of economic stability for cultural institutions. We are confident that this gift, which focuses on the museum endowment, will greatly enhance and promote the financial integrity of this magnificent Maine institution.
The PMA is hoping to raise its endowment to $40 million.