Cohen Foundation Awards $50 Million to Museum of Modern Art

By Sharbari Kamat

The Museum of Modern Art in New York City has announced a $50 million gift from the Steven and Alexandra Cohen Foundation in support of its capital campaign.

The unrestricted gift will support an ongoing renovation and expansion project that will add 50,000 square feet of gallery space, enabling the museum to reconceive the presentation of its collections and exhibitions. In recognition of the gift, the museum will create the Steven and Alexandra Cohen Center for Special Exhibitions, its largest contiguous gallery, on the sixth floor. Steven Cohen, who joined the museum’s board in 2016, and his wife previously have supported curatorial and acquisitions programs and special events at MoMA.

“Steven and Alex Cohen are incredible philanthropists whose longtime generosity to the museum exemplifies their deep commitment to sharing the art of our time with the widest possible audience,” said MoMA director Glenn D. Lowry. “This gift will have an extraordinary impact on our ability to present exhibitions at a scale that is virtually unprecedented.”

“Alex and I have always believed that the arts can, and should, enrich all people’s lives,” said Cohen. “We are proud to support the Museum of Modern Art, its renovation, and its expansion. We are excited to see how this gift and the Cohen Center will allow the museum to bring new and even greater artistic experiences to visitors.”