The Vinik Family Foundation has donated $5m to the Tampa Museum of Art. According to the museum, this is the largest donation or corporate gift that it has ever received.
The endowment will come with the opening of a new position for executive director. Whoever takes the post will have the title of Penny and Jeff Vinik Executive Director of the Tampa Museum of Art.
Jeff and Penny founded the Vinik Family Foundation. They are longtime patrons of the Tampa Museum of Art and have made other donations in the past. Penny has been especially active with the museum and has held several board positions at there. She was also a part of a committee for strategic planning and helped to select Dr. Michael Tomor as the current executive director. When asked about the donation and her work with the museum, Penny said:
“We’ve been so excited and inspired by Dr. Michael Tomor’s leadership and vision for the future, in particular his passion for securing the viability of the museum for generations to come. We want to ensure the stability and financial security of this position.”
According to the museum’s rules on endowment gifts, the gifts are permanent investments and only earnings from that investment can be used according to the donors’ wishes. The gift itself will continue to serve the museum and help it generate more income.
