Hooray!! Hooray!! And smiley faces all round.
Read Mark McDonald’s story in the Daily News and the amazing Stephan Salisbury’s article in the Philadelphia Inquirer. Donations are still needed, though–because the institutions had to take out a loan to cover part of the purchase price. Here’s who ponied up the biggest bucks (quoting from the story).
And yesterday, the Philadelphia Museum of Art and the Pennsylvania Academy of Fine Arts said their urgent fundraising campaign has been successful enough to make them co-owners of the Eakins masterpiece with the help of a loan from Wachovia Bank.
So far, the two institutions have collected more than $25 million in cash and pledges. The museum and academy are scheduled to take possession of the painting by Jan. 31. The size of the loan won’t be known, if at all, until sometime next year.
Among the larger donors are the Annenberg Foundation at $10 million, and the Neubauer Family Foundation, the Lenfest Foundation and the Pew Charitable Trusts, which each donated $3 million. In all, more than 2,000 donations from all over the country have been received.
