New York’s MoMA.

New York’s MoMA Receives $50 Million Gift

New York’s Museum of Modern Art announced today that the Steven & Alexandra Cohen Foundation has made a gift of $50 million in support of the museum’s ongoing renovation and expansion project, which will add fifty thousand square feet of gallery space, allowing the museum to reconceive the presentation of its collection and exhibitions.

In honor of the Cohens’ generosity the museum will create the Steven and Alexandra Cohen Center for Special Exhibitions, MoMA’s largest contiguous gallery. Located on the sixth floor, the Cohen Center will have an adaptable floor plan and will be used to regularly present large-scale exhibitions.

“Steven and Alex Cohen are incredible philanthropists, whose longtime generosity to the museum exemplifies their deep commitment to sharing the art of our time with the widest possible audience,” said MoMA director Glenn D. Lowry. “This gift will have an extraordinary impact on our ability to present exhibitions at a scale that is virtually unprecedented. I am also thrilled to have Steve as a new member of our board of trustees.”

Steven Cohen joined the museum’s board in June 2016. He and Alex are longtime supporters of the museum. Through the Steven & Alexandra Cohen Foundation, they have also contributed to other organizations and initiatives relating to education, children’s health, veterans, the arts, communities, and Lyme disease research.

“Alex and I have always believed that the arts can, and should, enrich all people’s lives,” said Steven Cohen. “We are proud to support the Museum of Modern Art, its renovation, and its expansion. We are excited to see how this gift and the Cohen Center will allow the museum to bring new and even greater artistic experiences to visitors.”