#endowment

#endowment

Tate's plan to secure its future by building an endowment fund worth £150m by 2030 has sparked debate in the UK museum sector about whether such a funding model could sustain national and regional institutions long-term. Endowments are less widespread in the UK than in the US, where the top 45 museums hold such funds worth more than $40bn in aggregate, according to UpStart Co-Lab figures.

Philanthropist MacKenzie Scott donated $70 million to the United Negro College Fund last week. The funds will be distributed to private historically Black colleges and universities that are UNCF members. The $70 million will be spread across 37 member institutions.

I would like to take this opportunity to reassure each and every community member of my deep and unwavering commitment to the safety of our endowment.