Leading up to the grand opening of its massive new wing, the Museum of Fine Arts announced on Monday a massive $10 million gift of money and art from Bank of America.
Five million dollars in art comes from Bank of America's corporate collection, including an iconic painting by contemporary artist Ellsworth Kelly.
Robert Gallery, president of Bank of America in Massachusetts, said that supporting the MFA strengthens his bank's ties to the community it serves.
"Through the acquisitions that we've done over the years," Gallery said, "many of the banks that comprise Bank of America had accumulated art, among other assets. And to us this was an opportunity to take one of those pieces and make it more accessible to this city through the great venue of the MFA."
The other $5 million in cash will go to programs, exhibitions, operations and improvements at the MFA, but also events celebrating the museum's up-and-coming Art of the America's wing.
As thanks, the museum's Huntington Avenue entrance is now called the "Bank of America Plaza on the Avenue of the Arts."
The new title is chiseled in granite pedestals in front of the museum.
With this gift Bank of America edges out State Street Corp as the MFA's most generous corporate donor.
To date the museum has raised well-over $500 million for it's expansion.
The new wing opens on Nov. 20.
This program aired on September 20, 2010. The audio for this program is not available.