Metropolitan Museum of Art receives $ 125 million from administrator


An overview of remarkable gifts compiled by the The Chronicle:

Metropolitan Art Museum

Oscar Tang and Agnes Hsu-Tang have pledged $ 125 million to renovate the wing of the museum that houses its collection of modern and contemporary art. The space, currently known as the Lila Acheson Wallace Wing, will be renamed for the Tang.

Oscar Tang co-founded the asset management company Reich & Tang in 1970. He served on the museum’s board of directors for 30 years and has long supported the institution. Previously, he had given the museum $ 30 million to purchase rare Chinese artwork, create an endowment for the Department of Asian Arts, and support other efforts.

“As a young boy, I was displaced by war and America gave me refuge, education and opportunities to succeed,” said Tang, who arrived in the United States at the age of 11. years, in a written statement. “I joined the Met’s board of directors almost 30 years ago and wanted to share the richness of my Chinese heritage with America and the world.

Agnes Hsu-Tang is an archaeologist and art historian. She has worked in the protection and rescue of cultural heritage since 2006 and is a Senior Research Fellow at Columbia University and Distinguished Consulting Scholar at the University of Pennsylvania Museum of Archeology and Anthropology. She was also an advisor to Unesco and President Obama’s Cultural Property Advisory Committee.

The Tang have made many donations to arts and culture groups and to education. In 1989, Oscar Tang co-founded the Committee of 100, a Chinese-American leadership organization that focuses on promoting better relations between the United States and Greater China.

Cornell University

Richard and Margaret Riney have donated $ 30 million through their Margaret and Richard Riney Family Foundation to endow a new research center, the Margaret and Richard Riney Canine Health Center at the College of Veterinary Medicine.

The donation will initially support an internal grants program for research related to canine health, with particular emphasis on the study of cancer, genetics and genomics, infectious diseases and immunology.

Richard Riney is CEO of RPR Management, the couple’s private investment office. He is the son of Roger Riney, who founded the Scottrade discount brokerage firm and ran the business until its sale to TD Ameritrade in 2017.

Schwarzman Animal Medical Center

Stephen and Christine Schwarzman donated $ 25 million to expand and renovate the hospital, which bears their name last week. Stephen Schwarzman is co-founder and chairman of Blackstone Group, an investment firm in New York. Christine Schwarzman is an intellectual property lawyer.

The billionaire couple are made up of serial donors who have given a lot to arts and culture groups and universities. They appeared on the The Chronicle’s the annual Philanthropy 50 list of top donors five times since 2008.

Texas A&M Foundation

Adam Sinn has donated $ 20 million to support the finance department at Texas A&M University Mays Business School and to support financial aid for undergraduate and graduate students. The department will be called Sinn.

Sinn is president of the electricity trading company Aspire Commodities in Houston. He obtained a bachelor’s degree in finance from the university in 2000.

He is now giving half of the donation and will donate the remaining $ 10 million over the next five years. Of the total donation, Sinn has earmarked $ 7.5 million to fund undergraduate and graduate scholarships for finance students who might not otherwise be able to attend college.

Trinity College

Francisco Borges and his family donated $ 10 million to support financial aid for students who couldn’t attend university without it. In recognition of the gift, university officials plan to rename its admission center to Manuel and María Luisa Lopes Borges Admission Center.

Francisco Borges is a former Connecticut State Treasurer who graduated from college in 1974. His wife, Luisa, and siblings Peter Borges, Francesca Borges Gordon, Maria Borges Correia, and Joaquina Borges King have all contributed to the gift. Peter Borges, Francesca Borges Gordon, and Maria Borges Correia graduated from Trinity in 1980, 1982 and 1985, respectively. Joaquina Borges King attended Wesleyan University.

To learn more about other big donations, check out our database of donations of $ 1 million or more, which is updated regularly.

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