Saturday, May 19, 2007

Simons endow posts at Indianapolis Museum of Art

The Indianapolis Business Journal reports that shopping mall developer Melvin Simon and his wife, Bren Simon, have given the Indianapolis Museum of Art $10 million to endow the director and CEO position.

The donation will be added to IMA's endowment of $367 million, but interest proceeds will fund salary and professional development expenses for the museum's head.

Though several large art museums have endowed directorships, the Simons' gift will be the largest ever given to underwrite the top position, according to the IMA.

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