Press Releases
 

The Virginia Living Museum announced today that it met its $3 million goal to receive a $6 million gift and paid off its $9 million construction loan by the Dec. 31 deadline.

More than 700 families, businesses and foundations contributed to the Opportunity Fund drive.

“We are so grateful to everyone who helped turn this crisis into an amazing opportunity for the museum to become debt free, “ said Executive Director Page Hayhurst.  

“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!”

Former museum president Joe Witt chaired the $3 million drive, supported by the museum’s development staff led by Development Director Carolyn Cuthrell.

The museum celebrated the occasion with two events on Dec. 31. Donors and board members participated in a ceremonial note-burning during a celebratory breakfast. At noon two possums ate a cake decorated like a bank note during a family Noon Year’s Eve celebration.

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.

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

Hayhurst said “the $6 million gift was particularly amazing given the current economic situation and that it was designated for retiring a debt that had become a growing burden for the museum. The community response to this gift was equally amazing. The VLM was built with community support. It has continued to thrive with community support and community support enabled us to meet our goal.”

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.

The museum is located at 524 J. Clyde Morris Blvd., Newport News. For information, call 757-595-1900 or visit www.thevlm.org.

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