Tate has launched an ambitious endowment fund, aiming to raise £150 million by 2030 to sustain its exhibition and research programs. The campaign, named the Tate Future Fund, has already secured £43 million through donations from various individuals and organizations. Tate's director, Maria Balshaw, highlighted its uniqueness in the cultural sector and its necessity for long-term planning, likening it to endowments held by leading North American museums. The fund was announced at a gala event celebrating Tate Modern's 25th anniversary, where over £1 million was raised to support the Tate's initiatives.
The Tate Future Fund aims to raise an endowment of £150m by 2030 to ensure long-term support for the Tate's exhibition and research programs.
Maria Balshaw emphasized that no cultural organization in the UK has initiated such an ambitious fundraising campaign, highlighting its significance for the arts sector.
Roland Rudd announced the fund during Tate Modern's 25th anniversary gala, which successfully raised over £1m from contributors to support Tate's artistic initiatives.
The gala celebrated Tate Modern's history, attracting over 600 guests and marking a benchmark for engaging young individuals with the arts.
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