Speed Museum Director Discusses Renovations, Fundraising

by Gabe Bullard on April 9, 2011

Speed Art Museum director Charles Venable discussed the museum’s impending $79 million makeover Saturday.

Venable told the crowd the capital campaign for the expansion and renovation is the largest ever attempted by a Kentucky arts organization.

Insider Louisville reports that Venable is confident the campaign, which has been in its silent phase for several months, will be successful. IL’s Terry Boyd writes:

• Of the projected $57 million cost of Phase 1, which includes a new building on the north side, the Speed has raised $31 million after a two-year “quiet campaign.” Previously, Kentucky’s largest arts capital campaign had been about $15 million, “and we doubled that with the quiet part of the campaign,” Venable said.

• Two anonymous donors who also are Speed Museum trustees have agreed to donate $10 million with the stipulation that the museum staff must raise a matching $10 million by July 30.

• If the museum can reach that $10 million threshold, the project would be funded to $51 million as of July 30.

• Humana Inc. co-founder David Jones and his wife Betty agreed to give $1 million to the effort to match the trustees pledge, Venable said.

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