MoLAA Gets $25-Million Endowment

According to terms of the bequest, only the earnings of the endowment may be used to pay MoLAA's operating expenses and 10% of the earnings must be reinvested in the endowment. The museum will get additional support from a gift of the Robert Gumbiner Foundation, in an amount yet to be determined.

Money generated by the two endowments is expected to pay 35% to 40% of the museum's annual operating costs, currently $3.6 million. MoLAA must raise funds to cover the remaining 60% to 65%. A gala on April 25 will kick off a series of fundraising events.