Virginia Living Museum
Opportunity Fund

Update Dec. 31: We made it!!!

The Virginia Living Museum has met its $3 million goal to receive a $6 million gift and paid off its $9 million construction loan by the Dec. 31, 2009 deadline.

Statement by Museum Executive Director Page Hayhurst: "We are so grateful to everyone who helped turn this crisis into an amazing opportunity for the Museum to become debt free. We could not have done it without our anonymous donor and the 2:1 match that inspired such an incredible response from the community. It's clear that the VLM is loved by many and valued for the contributions it makes to the area's quality of life and to science education. Thank you to all who supported the Museum and enabled this once-in-a-lifetime achievement!"

A Once in a Lifetime Opportunity for the VLM

The Virginia Living Museum has received an amazing opportunity to pay off the remaining $9 million debt from the 2000-2004 Capital Campaign that built the present 62,000 sq. ft. Museum building. The Museum financed part of the construction costs after anticipated state funding for the capital project never materialized.

An anonymous donor has offered an extraordinary matching gift. The donor has pledged $6 million if the Museum can raise $3 million in cash and pledges by Dec. 31, 2009.

“This is a once in a lifetime chance to secure the Museum’s future,” said Page Hayhurst, VLM executive director. “This gift is particularly amazing given the current economic situation and that it has been designated for retiring a debt that is a growing burden for the Museum.”

In announcing the challenge grant in May, then Board President Joe Witt said the Museum had already received $1.7 million in cash and pledges.. "We're thrilled that members of our Board of Trustees and community leaders have gotten us more than half way to our goal," Witt said in May.

Witt is chairing a committee that has been soliciting contributions from businesses and community leaders. In addition, a public campaign had brought in more than $100,000 in smaller donations by November.

The 2000-2004 capital campaign for the new museum building was successful, raising more than expected from local government, business and private sources and anticipating funding from the state. When state funding did not materialize, the building construction was financed with two 20-year notes.  

The bank called the museum’s two notes in 2008, as part of the nation’s banking crisis. At that point, the museum owed $9 million in principal and interest.

The museum had been making its regularly scheduled payments. "The bank has been helpful in giving the museum time to resolve the debt,” Hayhurst said.

In response to the crisis, an anonymous donor offered a very special matching gift:
If the museum raises $3 million in cash and pledges by Dec. 31, 2009, the donor will match 2:1, making a $6 million gift!


The Virginia Living Museum is a private non-profit museum and educational facility that has been in operation since 1966. In March it was accredited by the Association of Zoos and Aquariums, becoming the 12th institution in the country to be accredited by both AZA and the American Association of Museums.

Click here to make a cash donation.

Click here to complete a pledge form.

FAQs

Why does the Museum have debt and how much is owed?
Anticipated state funding for the new museum building, which opened in 2004, never materialized. With interest, the debt has grown to $9 million today.

The VLM receives no state funding?
As a private not-for-profit organization, we receive the majority of our income from admission, memberships, program revenue and gifts; only 13% of our budget comes from local government funding. We receive no state funding.

What counts for the opportunity match?
All gifts made to the Opportunity Fund by Dec. 31 will be matched 2:1 (ex: a gift of $25 will be matched with an additional $50).

Will my check to the Opportunity Fund provide me with a membership to the Museum?
No. Membership is separate from the Opportunity Fund. A gift to the Opportunity Fund is a tax-deductible donation.

How can I make a gift?
You may give online, by phone to 757-534-7408, or in person at the Museum.

Click here to make a cash donation

Click here to complete a pledge form



Need more information? Please call Carolyn Cuthrell at 757-534-7487.

Read what others are saying about the Opportunity Fund:

Dec. 22, 2009 WVEC

Time running out to save Va. Living Museum

Dec. 6, 2009 wydaily.com

Good to Know: Dec. 31 a Day of Truth for VLM