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Tuesday, 06 January 2015 10:55

The Detroit Institute of Arts Meets $100 Million Fundraising Goal

The Detroit Institute of Arts. The Detroit Institute of Arts. Wikimedia Commons

Less than a year after the Detroit Institute of Arts promised to contribute $100 million to the grand bargain rescue fund at the core of the city's bankruptcy restructuring plan, the museum has crossed the finish line.

Museum board chair Gene Gargaro said Monday that he reported to Michigan Gov. Rick Snyder at the end of December that the museum had reached the present-value equivalent of its pledge to raise $100 million over 20 years.

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