Displaying items by tag: board of trustees

The Museo del Prado, the main Spanish national art museum located in Madrid, received the largest private donation in decades on Tuesday, January 29, 2013. Prado officials announced that the museum was the recipient of 12 medieval and Renaissance works by Spanish artists.

Barcelona-based businessman and engineer Jose Luis Varez donated the collection to the institution during a ceremony, which counted the Spanish Prime Minister Mariano Rajoy among its guests. Jose Pedro Perez Llorca, president of the Prado’s board of trustees, said, “These aren’t times of lavish state spending, so this donation is generous and tremendously timely.” Spain’s dire economic standing has led to severe spending cuts in an attempt to meet public deficit targets.    

The recently acquired paintings and sculptures include the central panel of an altarpiece from a church in northeastern Spain titled The Virgin Tobed (1359). The Catalan Italo-Gothic painting is believed to be by 14^th century artist Jaume Serra (died after 1405). The works will join the Prado’s exemplary collection, which includes paintings by Spanish masters such as El Greco (1541-1614), Diego Velázquez (1599-1660), and Francisco de Goya (1746-1828).

To thank Varez for his generous donation, the Prado will name a room in the museum in his honor.

When Henry Kravis, the co-chairman of the global investment firm KKR & Co., and prominent art collector Donald L. Bryant Jr. purchased a triptych by Jasper Johns (b. 1930) in 2008, the duo agreed to take turns exhibiting the works in their homes before eventually donating them to the Museum of Modern Art in New York. In a lawsuit recently filed by Kravis and his wife, Marie-Josée, the couple claims that Bryant violated their agreement when he refused to hand the works over to them on January 14, 2013. The Kravises stated that Bryant is essentially holding the works hostage until their agreement is amended, nixing the pledge to donate the paintings.     

Considered one of the most important living American artists, Johns completed the three works titled Tantric Detail I, Tantric Detail II, and Tantric Detail III in 1980 and 1981. A powerful presence in the contemporary art market, Johns’ triptych is said to be worth between $15 million and $25 million. MoMA announced the Johns acquisition in a 2008 press release saying that the works were a “promised gift” from Bryant, who was one of the museum’s trustees at the time, Marie-Josée, the president of MoMA’s board of trustees, and her husband, Henry.

In their lawsuit, the Kravises ask that Bryant relinquish the works to them so that they can fulfill their vow to donate the paintings to MoMA.  

Fans are breathing a sigh of relief after Washington, D.C.’s Corcoran Gallery of Art decided against selling its historic Beaux-Arts home and moving to the suburbs. The cash-strapped institution shocked fans with the proposal, which was announced this summer. Ultimately, the Corcoran’s board of trustees decided that the museum and its associated College of Art and Design, which is in close proximity to the White House, should stay put.

Designed by Ernest Flagg, the Corcoran Gallery opened to the public in 1897 and remains the largest privately supported cultural institution in Washington, D.C. The museum, which specializes in American art, is currently in need of $130 million worth of renovations. While the institution’s façade was restored last year, the galleries are still in need of a major overhaul, which is the main reason why Corcoran officials were considering the sale to begin with.

Although the institution has been struggling financially for years, strong reaction to the potential move has proved inspirational. The Corcoran is considering embarking on partnerships with like-minded institutions and collaborations with other D.C. museums, including the National Gallery of Art, have been explored.

The Corcoran Gallery, Washington D.C.’s oldest art museum, has been losing money for years and is currently in need of at least $130 million in renovations. The only major museum on the Mall that is privately owned, times have been tough for the Corcoran who must charge admission and raise large amounts of money to survive. Attendance has dropped drastically and donations to the museum have roughly halved since the recession.

The Corcoran’s commanding Beaux Arts façade and top-notch collection of 17,000 works including pieces by Winslow Homer, Edward Hopper, John Singer Sargent, Claude Monet, and Willem de Kooning are simply not a big enough draw to keep the institution afloat, especially when every other institution on the Mall offers free admission. The Corcoran’s board of trustees are currently debating between a number of options to keep the museum active including selling the current building, combining forces with another institution, and moving out of the city.

While many find the loss of the Corcoran will leave the Washington Mall with a gaping hole, the museum announced that they have been discussing possible solutions with the National Gallery of Art, George Washington University, and a few other unnamed institutions. The Corcoran hired a real estate firm as its adviser in September and hopes to have its future mapped out by the first half of 2013.

The District of Columbia Historic Preservation League is looking to extend the landmark designation for the Corcoran’s exterior and interior. If the institution were approved, any major construction would be subject to public review.