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July 25, 2014

Arts Center in the South of France Faces Money Crunch

The Maeght Foundation, a popular art museum that attracts 200,000 visitors each year to its campus outside the French city of Nice, is facing a financial and management crisis, according to The Economist.

Founded 50 years ago this month by art dealer Aimé Maeght, the foundation has struggled in recent years to raised the $4-million needed annually to keep operations humming. Moreover, its 12-person board, chaired by the founder's son, Adrien Maeght, is fighting over how to move forward.

Olivier Kaeppelin, who became director of the foundation in 2011, is about to start a multimillion-dollar fundraising effort to built a museum extension that will include naming rights for donors, unusual in France. He also wants to be able to sell works of art from the foundation's collection. Currently, the foundation is barred from selling art.