African-American History Museum Receives $10M

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Bank of America, Kaiser Permanente, Prudential Financial Inc., Target and Toyota have each provided $2 million in sponsorships to support the grand opening and inaugural events of the new Smithsonian's National Museum of African American History and Culture.

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Each company is a founding donor of the museum and their sponsorship not only includes support for the grand opening, but officials said it will would provide assistance for other needs they museum may encounter.

"These corporations have been longstanding, essential partners in the campaign to build this museum," Lonnie G. Bunch III, the founding director of the museum, said in a statement. "Now, their support as sponsors will enable the museum to host a public celebration that reflects the historic significance of this event: the opening of the first national museum dedicated to the African-American experience."

Bank of America's $2 million sponsorship is far from the company's only gift to the museum. Previously, the bank had announced the donation of historic images from its corporate art collection to the museum that featured 61 black-and-white photographs by Jeanne Moutoussamy-Ashe that also includes Daufuskie Island, a unique national landmark off the South Carolina coast inhabited by a community whose distinctive language and culture remained strongly influenced by its African heritage.

In addition to the portfolio of images, Bank of America contributed $1 million to the museum's capital campaign after making a $1 million grant during the early stages of the museum's establishment.

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