Michigan foundation pledges $40 million to Detroit’s art collection
An additional $40 million has been pledged to save the Detroit Institute of Arts’ collection, this time from the W.K. Kellogg Foundation.
On the heels of the announcement that nine different philanthropic organizations pledged to raise $330 million for Detroit pensions and the struggling Detroit Institute of Arts, the W.K. Kellogg Foundation has pledged $40 million in an effort to save the museum’s historic collection.
Without contributions, the city-owned Detroit Institute of Arts might be forced to sell some of its pieces in order to help Detroit pay back some of its $18 billion debt.
The money pledged by the Kellogg Foundation and others will likely go to the city’s pensions, which are underfunded by an estimated $3.5 million.
In a statement, the Battle Creek-based Kellogg Foundation stressed its Michigan roots and called the pledge an “investment in the future of Detroit.”
“We have a strong belief that people have the inherent capacity to solve their own problems and our support is meant to come alongside and strengthen the opportunities for success. In addition to financial resources, we offer our active collaboration with civic leaders and philanthropic partners. If we are to chart a new future for Detroit, it is clear that this will require big ideas, great passion and creative collaboration.”