Museum gets $3M donation from Waitt
1:00 AM
By Bret Hayworth Journal staff writer | Posted: Thursday, June 19, 2008
SIOUX CITY -- As the city seeks a $4 million state grant to help pay for the Sioux City Public Museum's $17.3 million move downtown, the Waitt Family Foundation has promised to give at least $3 million for the project.
A May 29 letter to museum director Steve Hansen from the foundation, included in the Vision Iowa Community and Attraction Tourism grant application packet, confirms the commitment of at least $3 million for the museum's ongoing fundraising campaign.
"This commitment will be a naming gift for the new facility, with the specific details to be determined at a future date prior to opening. The commitment will be paid in $1 million annual payments," the foundation's Dave Russell wrote.
The naming announcement is expected to come from the Siouxland Heritage Foundation at 3 p.m. today at the current museum, city manager Paul Eckert said.
The Waitt Family Foundation was created in 1993 by Ted Waitt, when he was chairman and CEO of computer maker Gateway Inc. The foundation, headquartered in La Jolla, Calif., had assets of $300 million in 2000.
A $2 million naming gift from Kind World Foundation, established by Waitt's brother, entertainment businessman Norm Waitt Jr., went toward moving the Siouxland Y from Sioux City to South Sioux City early this year. The facility is called the Norm Waitt Sr. YMCA in honor of the brothers' late father.
The Sioux City Public Museum is expected to open in its new quarters in December 2009. In contrast to its current 9,000 square feet of space in the Peirce Mansion at 2901 Jackson St., the new facility at 607 Fourth St. will have 65,000 square feet.
The May 30 application by the city of Sioux City and Siouxland Heritage Foundation for a $4 million grant from the Vision Iowa Community and Attraction Tourism program estimates the cost of the move at $17.3 million.
The grant application notes that major sources of funds are $3 million from the Waitt Family Foundation, $1.65 million from the city, $1.93 million from individual and corporate donors. The Pacesetters portion of the capital campaign has resulted in 27 gifts totaling $6.75 million in pledges, and the Special Gifts portion of the fundraising has resulted in 30 gifts of $110,000. Major fundraising is proceeding through June 30.
The application is accompanied by many letters of support, including from Sioux City lawmakers serving in the Iowa Legislature, Mayor Mike Hobart, Downtown Partners, the presidents of Morningside College and Briar Cliff University and leaders of Scouting groups in the area who anticipate a bigger, more usable museum.
Bret Hayworth may be reached at (712) 293.4203 or brethayworth@siouxcityjournal.com
A May 29 letter to museum director Steve Hansen from the foundation, included in the Vision Iowa Community and Attraction Tourism grant application packet, confirms the commitment of at least $3 million for the museum's ongoing fundraising campaign.
"This commitment will be a naming gift for the new facility, with the specific details to be determined at a future date prior to opening. The commitment will be paid in $1 million annual payments," the foundation's Dave Russell wrote.
The naming announcement is expected to come from the Siouxland Heritage Foundation at 3 p.m. today at the current museum, city manager Paul Eckert said.
The Waitt Family Foundation was created in 1993 by Ted Waitt, when he was chairman and CEO of computer maker Gateway Inc. The foundation, headquartered in La Jolla, Calif., had assets of $300 million in 2000.
A $2 million naming gift from Kind World Foundation, established by Waitt's brother, entertainment businessman Norm Waitt Jr., went toward moving the Siouxland Y from Sioux City to South Sioux City early this year. The facility is called the Norm Waitt Sr. YMCA in honor of the brothers' late father.
The Sioux City Public Museum is expected to open in its new quarters in December 2009. In contrast to its current 9,000 square feet of space in the Peirce Mansion at 2901 Jackson St., the new facility at 607 Fourth St. will have 65,000 square feet.
The May 30 application by the city of Sioux City and Siouxland Heritage Foundation for a $4 million grant from the Vision Iowa Community and Attraction Tourism program estimates the cost of the move at $17.3 million.
The grant application notes that major sources of funds are $3 million from the Waitt Family Foundation, $1.65 million from the city, $1.93 million from individual and corporate donors. The Pacesetters portion of the capital campaign has resulted in 27 gifts totaling $6.75 million in pledges, and the Special Gifts portion of the fundraising has resulted in 30 gifts of $110,000. Major fundraising is proceeding through June 30.
The application is accompanied by many letters of support, including from Sioux City lawmakers serving in the Iowa Legislature, Mayor Mike Hobart, Downtown Partners, the presidents of Morningside College and Briar Cliff University and leaders of Scouting groups in the area who anticipate a bigger, more usable museum.
Bret Hayworth may be reached at (712) 293.4203 or brethayworth@siouxcityjournal.com
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Thank you wrote on Jun 20, 2008 9:44 PM:
MMP wrote on Jun 19, 2008 8:03 AM:
Not to play devil's advocate, we do need to ask how the museum's capital campaign get to $17.3 million all of a sudden? Just a few weeks ago the projected costs were $9 million.
This question needs to be asked and explained to the public because of the grilling the air museum folks received from council members during their request. "