DETROIT, Aug. 6, 2014 /PRNewswire/ -- The Detroit
Institute of Arts (DIA) announced today that Toyota Motor North
America pledged $1 million toward the
DIA's commitment to raise $100
million as part of a "grand bargain" that will help the
City of Detroit emerge from
bankruptcy, support city pensioners and protect the museum's art
collection for the public.
"Toyota has demonstrated its commitment to Detroit and Michigan by doing its part to secure the DIA's
future while helping Detroit's
retirees," said Eugene A. Gargaro
Jr., DIA board chairman. "We are extremely grateful for
Toyota's generous support and know that it will motivate other
donors and help pave the way for a bright future, both for the
City of Detroit and the DIA."
"Detroit and the surrounding
areas are vitally important to the automotive community. They
deserve our support," said Simon
Nagata, president of Toyota Motor Engineering and
Manufacturing, Inc. "Together we can find solutions to help
Detroit become the healthy and
vibrant community that reflects the spirit of its people. This
commitment is a way to demonstrate our gratitude to the people who
have built this industry and support us every day."
The grand bargain will provide Detroit's pensioners more than $800 million from the DIA, local and national
foundations and the State of
Michigan over a 20-year period. The funds will be directed
to a supporting organization of the Community Foundation for
Southeast Michigan and then
disbursed for city pension payments over the next 20 years. As part
of the grand bargain, the City of
Detroit will transfer ownership of the DIA's collection,
building and related assets to the private nonprofit corporation
that currently operates the museum, Detroit Institute of Arts,
Inc.
About Detroit Institute of Arts (DIA)
The Detroit Institute of Arts (DIA), one of the premier art
museums in the United States, is
home to more than 60,000 works that comprise a multicultural survey
of human creativity from ancient times through the 21st century.
From the first Van Gogh painting to enter a U.S. museum
(Self-Portrait, 1887), to Diego
Rivera's world-renowned Detroit Industry murals
(1932–33), the DIA's collection is known for its quality, range and
depth. The DIA's mission is to create opportunities for all
visitors to find personal meaning in art.
Programs are made possible with support from residents of
Wayne, Oakland and Macomb counties.
About Toyota
Toyota (NYSE:TM), the world's top automaker and creator of the
Prius, is committed to building vehicles for the way people live
through our Toyota, Lexus and Scion brands.
Over the past 50 years, we've built more than 25 million cars and
trucks in North America, where we
operate 14 manufacturing plants (10 in the U.S.) and directly
employ more than 40,000 people (more than 32,000 in the
U.S.). Our 1,800 North American dealerships (1,500 in the
U.S.) sold more than 2.5 million cars and trucks (more than 2.2
million in the U.S.) in 2013 – and about 80 percent of all Toyota
vehicles sold over the past 20 years are still on the road
today. For more information about Toyota, visit
www.toyotanewsroom.com.
SOURCE Toyota; Detroit Institute of Arts