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We’re thrilled to be a part of it and invite the community to join us in supporting the Museum’s 2028 Campaign.” “This Campaign will elevate the Museum’s education, exhibition, and outreach efforts for another 100 years.

“The Museum has contributed so much to our community for nearly 100 years,” added Tom Prater. “As art collectors ourselves and as huge fans of the Springfield Art Museum, we are honored to serve.” Selections from the Prater’s large collection of contemporary ceramics were a part of the Museum’s 2017-18 special exhibition Wonder Rooms: Ozark Collections. “We are so proud to assist the Museum with this incredible growth opportunity,” said Kimberley Prater. “And we’re pleased and grateful to announce that two remarkable and generous community members have agreed to lead the 2028 Campaign private investment effort, Drs. “With receipt of these important tax credits, now is the time for the Museum to invite individuals and corporations to make their commitments to the Museum’s 2028 Campaign,” said Museum Director Nick Nelson. These projects were already successfully funded through public partnership and private investment and were critical first steps necessary to renovating and replacing Museum buildings. This announcement comes just two months after The Sunderland Foundation’s $5 Million lead gift to the 2028 Campaign – the largest gift in the Museum’s history – and the near completion of both the Fassnight Creek naturalization and parking lot improvement projects. Tax credits cannot be “refunded” or “carried-back” but can be “carried forward” to offset future tax liabilities for up to five years if the tax credit in the donation year exceeds the donors’ tax liability in that same year. Making our community an attractive place to live and work helps us attract new people, growing our workforce and making a positive impact on our local economy.”Ĭontributors wishing to take advantage of the tax credit must make their contribution of cash or securities directly to the Missouri Development Finance Board which will then distribute the monies to the Museum and the tax credit to the donor. “Arts and culture amenities like the Museum not only benefit our current residents and helps us retain talent, but also contribute to Springfield’s quality of place.

“We’re excited to see the growth occurring at the Springfield Art Museum,” said Matt Morrow, President of the Springfield Chamber of Commerce. These tax credits can be used by the contributor to pay certain taxes due to the State of Missouri or the credits can be sold or transferred within certain parameters. Qualified individuals and corporations can receive a 50% Infrastructure Development Fund Tax Credit based upon their contribution (i.e., a $50,000 contribution receives a $25,000 tax credit). The tax credits are designed to spur private investment in the Museum’s transformative $25 million renovation and expansion.

(June 1, 2022) – The Springfield Art Museum announced today that it has been awarded $2 million in tax credits from the Missouri Development Finance Board (MDFB).

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