The National Museum of African American Music has received more than $5.5 million in new private-sector investments over the last 30 days.
NMAAM now has less than $10 million to raise to complete its capital campaign goal of $60 million.
NMAAM is under construction in the heart of downtown Nashville in the Fifth & Broadway development. The exterior shell of the development should be completed this summer. NMAAM expects to take control of the space in August and open early next year.
Investing in the museum are:
R.H. Boyd Publishing Corporation: LaDonna Boyd, CEO of R.H. Boyd Publishing Corp., announced its gift of $1 million to NMAAM. Chairman Emeritus Dr. T.B. Boyd III, a longstanding business leader in the Nashville community, initiated the founding of the museum nearly 20 years ago. The gift was made in recognition of Dr. Boyd’s vision.
Clearbrook Hospitality LLC: Chairman/CEO of Clearbrook Holdings Corp. Mike Shmerling and Ric Olsen, president of Clearbrook Hospitality LLC, presented a check for $1 million to NMAAM President/Chief Executive Officer H. Beecher Hicks III on June 21. The presentation represented Clearbrook’s investment in an innovative, joint marketing agreement between the two organizations.
Bank of America: Led by Nashville Market President Tyson Moore, Bank of America has announced an unrestricted gift of $500,000 to the museum. Hicks announced that the courtyard entrances to the museum would bear the Bank of America name.
Belmont University: Belmont President Dr. Bob Fisher announced a new, $1 million capital contribution to the museum. Belmont will have its name on the ‘Wade in the Water’ gallery, which traces the development of gospel music and the significant contributions of spiritual music in the history of African American traditions.
Vanderbilt University: Chancellor Nicholas Zeppos announced at NMAAM’s Celebration of Legends event gifts to the museum totaling $2 million in capital and investments in development of the museum’s standing collection of artifacts. Vanderbilt’s commitment is made in honor of late Vice Chancellor for University Affairs and Athletics and Athletic Director David Williams II.
“We are honored and humbled to announce these significant financial investments in the museum,” Hicks said. “Each contribution represents a thoughtful and personal investment by each of these organizations. They see the value that NMAAM will bring to Nashville, not only as a venue for visitors, but also as an educational resource for the region’s children. They are basically making an investment in our national culture. This is a very proud moment for the museum.”
Hicks notes that Mayor David Briley has played an important role in bringing the importance of the museum to the attention of the business community.
“Today marks the latest chapter in telling the important story of African American music in our city and beyond,” Briley said. “NMAAM will soon be a world-class museum that honors this important genre as well as those influenced by it. It’s great to see the private sector step up in such a strong way to support making the museum a reality, and I thank them for doing so.”