Academy Museum of Motion Pictures on track to hit $250 million capital campaign goal
The Academy of Motion Picture Arts and Sciences has raised $100 million toward its upcoming museum dedicated to the history of movies.
The Hollywood nonprofit has set a capital campaign goal of $250 million, which will be used to fund the movie history collection.
Christened the Academy Museum of Motion Pictures, the collection will be housed in the former May Company building in Los Angeles, which is now owned by the Los Angeles County Museum of Art. LACMA will lease the building to the Academy.
The redesign is being overseen by Renzo Piano, who designed LACMA's Broad Contemporary Art building and the Resnick Pavilion, and Zoltan Pali.
On Thursday, the Academy unveiled renderings for the building, which is slated to open in 2016. The 30,000-square-foot structure sits on the campus of LACMA and houses some museum offices. The redesign will restore streetfront facades and constructs a spherical glass addition at the back of the building, which will house a theater.
“The design for the museum will finally enable this wonderful building to be animated and contribute to the city after sitting empty for so long,” Piano said in a statement. “Our design will preserve the May Company building’s historic public profile while simultaneously signaling that the building is taking on a new life that celebrates both the industry and art form that this city created and gave to the world.”
The campaign to raise money for the first major U.S.. museum dedicated to movies kicked off in early 2012, chaired by Walt Disney Chairman Bob Iger, Annette Bening and Tom Hanks.
The money raised has come from private donations. The Academy said significant commitments have come from the co-chairs and their families, as well as a laundry list of industry names and past Academy Governors. It's a group that includes Fox Filmed Entertainment Co-Chairman Jim Gianopulos, producer Gale Anne Hurd, producers Kathleen Kennedy and Frank Marshall, and former Academy Tom Sherak.
Other contributions have come from the major studios The Walt Disney Company, NBCUniversal, Sony Pictures Entertainment, Twentieth Century Fox, Warner Bros. and Lionsgate and the various guilds.