New York City's NEW INC has raised $43m towards its $80m target, to fund its expansion into the building next door. One of the smallest fledgling institutions in the growing family of contemporary art museums in New York, this small organisation has big ambitions; "it's about trying to do things that museums haven't done or maybe yet imagined." The museum's current Bowery expansion plan would enable it to host larger exhibitions and experiment with new ideas. The funding would not only increase its endowment threefold, it would also pay for its business incubator New Museum and its Ideas City, which brings together planners, artists, and politicians to discuss future cities. What makes the NEW INC different from its contemporaries is that, aside from a few smaller works, it does not hold a permanent collection, however, this funding campaign may change that.
New York City's New Museum has raised $43m towards its $80m target, to fund its expansion into the building next door. One of the smallest fledgling institutions in the growing family of contemporary art museums in New York, this small organisation has big ambitions; "it's about trying to do things that museums haven't done or maybe yet imagined." The museum's current Bowery expansion plan would enable it to host larger exhibitions and experiment with new ideas. The funding would not only increase its endowment threefold, it would also pay for its business incubator NEW INC and its Ideas City, which brings together planners, artists, and politicians to discuss future cities. What makes the New Museum different from its contemporaries is that, aside from a few smaller works, it does not hold a permanent collection, however, this funding campaign may change that.