State Street Corp. gives $10m to MFA

As its record-setting campaign heads to the finish line, the Museum of Fine Arts yesterday announced a $10 million gift from State Street Corp., the largest single contribution from a corporation in the museum's history.

In return, the MFA's Fenway entrance, shuttered since the early 1980s but set to reopen next year, will be named after State Street. The gift from the Boston financial services firm brings the MFA's fund-raising campaign total to $415 million, $85 million away from its goal. The money is being raised for a massive expansion project set to be completed in 2010.

Designed by the British firm Foster and Partners, the project will add galleries, shops, and a 70-foot-high glass spine that runs through the building. Since 1981, the museum's main entrance has been the West Wing designed by I.M. Pei. But in 1995, the museum opened its Huntington Avenue doors, which had been closed four years earlier to save money. As early as next year, the MFA plans to close the West Wing doors to the general public, using them only for school groups and museum staff.

The Fenway entrance, officials say, is part of the MFA's effort to open itself up more to the community, along with restoring the museum's connection to the Emerald Necklace, a parkland the building overlooks.

State Street has had a long history of supporting the MFA, with museum records showing contributions dating back to 1970. More recently, State Street sponsored "Fashion Show: Paris Collections 2006," which ran through this spring.

"There was a lot of familiarity with the needs of the MFA," said Ronald E. Logue, chairman and chief executive of State Street Corp. "We truly believe we are a global company so when we bring non-US customers to Boston, we really want to show off Boston. One of the places you can do that is at the Museum of Fine Arts."

State Street has given money to other important, local museum projects. Last August the company announced it would contribute $3 million to the Institute of Contemporary Art, which opened its new home on the South Boston waterfront last December. The ICA's main entrance lobby is named after the company.

"It raises the bar, and I think it sends a message," said William McAvoy, director of institutional giving at the MFA. "This is really important, from our point of view, at a time when we both know the corporate climate in Boston is tough. They really sent a message that support of cultural institutions is vital to the city's vitality."

The State Street gift was announced yesterday at the MFA's annual board meeting. In addition, museum officials said the MFA has received a $1.5 million matching grant from the Michigan-based Kresge Foundation. The MFA must raise the same sum of money to receive the Kresge grant.

Previously, the largest corporate giver to the museum's campaign was Bank of America at more than $5 million. Citizens Bank, Liberty Mutual, and Merrill Lynch have given $1 million or more.

The MFA's goal is to finish its campaign, the largest in its history, by next June. So far, the museum has named 62 spaces and 93 endowment funds for donors. In addition, deputy director Patricia Jacoby, who is leading the fund-raising, noted that support from the museum's board has been strong. She said that 39 of the museum's 90 trustees have made gifts of at least $1 million.

Last September, the MFA revealed that trustee George D. Behrakis, with a gift of more than $10 million, had become the biggest identified contributor yet to the MFA's expansion campaign. His gift brought the total he has given to $25 million over the last five years.

"The campaign's in pretty good shape," said Jacoby. "We've got a big year ahead, to raise $85 million between here and June, but we've got a number of solicitations pending. I'm very confident."

The State Street gift came after years of discussion. Logue said the size of the contribution was based on the scope of the MFA project.

"Our relationship with State Street is a long one, but you know, as in all relationships there was an awful lot of talking to do and the thing happens at the right time," said MFA director Malcolm Rogers. "It might be earlier or it might be later. But any gift is welcome when it comes."

Geoff Edgers can be reached at gedgers@globe.com.