The First Art Newspaper on the Net Established in 1996 United States Thursday, November 27, 2014


The Institute of Contemporary Art/Boston raises $50 million for endowment and operations
The ICA campaign, which launched in 2010, generated three historical endowments. Photo by Iwan Baan.
BOSTON, MASS.- This week, the Institute of Contemporary Art/Boston announced that is has successfully completed its $50 million campaign. The $50 million was raised for the ICA’s endowment and operations, paving the way for the next phase of the museum's development and solidifying the ICA as a catalyst for artistic, educational and civic life in Boston.

The ICA campaign, which launched in 2010, generated three historical endowments: Ellen Poss endowed the director’s position, now named the Ellen Matilda Poss Director; Barbara Lee endowed the chief curator post, now named the Barbara Lee Chief Curator; and Tristin and Martin Mannion endowed the Senior Curator position, now named the Mannion Family Senior Curator. 100% of the ICA’s Board of Trustees contributed to the campaign and the museum received 21 seven-figure gifts. Lead gifts totaling nearly $25 million were given by Poss, Lee, outgoing ICA Chairman Paul Buttenwieser, Fotene Demoulas, the Barr Foundation and an anonymous donor.

“The ICA’s boards of Trustees and Overseers and our community of supporters and donors lead by example," said Jill Medvedow, Ellen Matilda Poss Director. “They clearly understand the museum's tremendous opportunity to amplify contemporary art’s role as an educator, incubator, and platform for new art and ideas as we follow our mission to demonstrate civic and cultural leadership in the city of Boston and on the waterfront.”

With the completion of the campaign, the ICA’s endowment has risen from $9.6 million in 2010 to $25 million today – a 160% increase – enabling the museum to fortify its position as a center of artistic excellence. This support allows the museum to continue its rigorous work of organizing exhibitions that are changing the field of scholarship such as Dance/Draw and the upcoming exhibition Fiber: Sculpture 1960 – Present and offering critical reviews of artists like William Kentridge, Amy Sillman, Nick Cave, and Mary Reid Kelley; commissioning new works by important choreographers like Bill T. Jones, Rashaun Mitchell, and Trajal Harrell; and developing a nationally recognized teen arts education program resulting in two honors from the White House.

The ICA is instrumental in the civic life of Boston and is a beacon of public access on the South Boston Waterfront, bringing more than 1.7 million visitors to the area and generating an economic impact of approximately $18 million per year for the area.





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