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February 23, 2016

Miami Museum Patrons Withheld Funds Amid Board Shakeup

The chief benefactors of the financially troubled Frost Museum of Science in Miami delayed a $1 million payment due on a previous pledge for several weeks, until the institution replaced its board with a new group headed by the donors, according to The Miami Herald. The board overhaul was part of an agreement under which the couple is loaning the museum $11 million to keep construction going on a new downtown home, a project that was imperiled by a fundraising shortfall.

The museum's 40-member board voted Feb. 10 for its own dismissal and the installation of a new interim panel in which patrons Patricia and Phillip Frost hold two of the four seats. A letter the previous day from Frosts to museum administrators referred to the tardy $1 million, part of a $35 million 2011 gift that led to the museum being named for the couple. The Frosts' support of the museum was praised by both new and departed board members.