Folk Art Museum Saved By 11th Hour Donation

folk 7199 image 300x300 Folk Art Museum Saved By 11th Hour Donation

A quilt from a recent exhibit.

A quilt from a recent exhibit.

The American Folk Art Museum will stay at its new home near Lincoln Center, The New York Times reports, after much-needed financial infusions from its trustees and the Ford Foundation.

The museum recently became the focus of public drama surprising for an organization with such a provincial name, moving out of its space next to MoMA on 53rd street, where it had been since 2001, due to an inability to pay off its debts. The debts were mostly related to the cost of that physical plant, and still followed the institution even after it moved.

The museum was considering a complete shut-down, with the bulk of its collection going to the Smithsonian. Edward Blanchard, newly elected Folk Art president, declined to comment on the size of the rescue donation.

Article continues below
More from Business & Tech
The deliberations in the trial of Jesse Litvak have continued on for as many days as there are charges of fraud.
Deliberations in Retrial of Jefferies Bond Trader May Raise Concern for Prosecutors