Washington Museum Receives Two Big Commitments

The Phillips Collection, a Washington art museum, has received $23.5-million in gifts to increase its endowment over the course of the past nine months, reports The Washington Post.

The Sherman Fairchild Foundation, in Chevy Chase, Md., donated $10-million of the total, while a trustee of the institution who sought to remain anonymous made a gift of $8-million.

The museum’s endowment has hovered around $18-million but dropped to $14.5-million during the recent market downturn, the newspaper says. With the latest donations, the endowment stands at $38-million.

Even so, the organization says it has faced the same budget troubles the recession is causing other arts groups, and it has made numerous cutbacks.

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