Crystal Bridges: Alice Walton's $488-Million Museum
Crystal Bridges: the plan
In its recently file appeals brief arguing for a proposed $30-million deal with Alice Walton's planned Crystal Bridges Museum, Bentonville, Arkansas, Fisk University sought to convince the Tennessee Court of Appeals that the in-construction institution will be a solid collection-sharing partner.
Using information supplied in the legal deposition of Bob Workman, the museum's executive director, Fisk's brief revealed some illuminating financial details about the much anticipated museum-in-progress:
Crystal Bridges has the personal financial backing of Alice Walton, who considers her obligation to be binding. Alice Walton and members of her family and a family foundation have given $317,000,000 to Crystal Bridges for the development of the Museum.But will it really open in 2010? According to the Arkansas museum's What's Going On? blog, a "frequently asked question" is, "When will Crystal Bridges open? The short answer is we already are!"
Crystal Bridges has $488,000,000 in assets, of which $138,000,000 are liquid assets. The Museum, scheduled to open in 2010, will have 32,000 square feet of exhibition spaces with space for 200 to 300 art works on exhibition.
That's because the museum has a satellite outpost in downtown Bentonville, featuring a scale model of the facility designed by Moshe Safdie and recent construction photos, as well as lectures, films and small exhibitions.
So that gives us the "short answer." Now, what's the update on the long answer?
August 20, 2008 1:30 PM
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LEE ROSENBAUM I'm a veteran cultural journalist with many pieces in the New York Times, Wall Street Journal and major art magazines. I have been a cultural contributor on New York Public Radio (WNYC and WQXR) and have provided arts commentary on NPR and public radio stations in Philadelphia and Los Angeles. I am a HuffPost Arts writer. I've been profiled on the PBS NewsHour with Jim Lehrer's Art Beat and in the Chicago Reader. I've appeared as an art-market commentator on BBC-TV and have published numerous Op-Ed pieces in the New York Times and Los Angeles Times. I am author of The Complete Guide to Collecting Art (Knopf) and have lectured on cultural property issues at the New Acropolis Museum and the University of Pennsylvania, on deaccessioning at at Investigative Reporters and Editors 2011 Annual Meeting, Columbia Law School, the University of Iowa and a conference of the Museum Association of New York, on museum governance and cultural property issues at Seton Hall University, on arts blogging at American University and on Smithsonian exhibition controversies at Rutgers University.
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________________________
moreLEE ROSENBAUM I'm a veteran cultural journalist with many pieces in the New York Times, Wall Street Journal and major art magazines. I have been a cultural contributor on New York Public Radio (WNYC and WQXR) and have provided arts commentary on NPR and public radio stations in Philadelphia and Los Angeles. I am a HuffPost Arts writer. I've been profiled on the PBS NewsHour with Jim Lehrer's Art Beat and in the Chicago Reader. I've appeared as an art-market commentator on BBC-TV and have published numerous Op-Ed pieces in the New York Times and Los Angeles Times. I am author of The Complete Guide to Collecting Art (Knopf) and have lectured on cultural property issues at the New Acropolis Museum and the University of Pennsylvania, on deaccessioning at at Investigative Reporters and Editors 2011 Annual Meeting, Columbia Law School, the University of Iowa and a conference of the Museum Association of New York, on museum governance and cultural property issues at Seton Hall University, on arts blogging at American University and on Smithsonian exhibition controversies at Rutgers University.
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