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    1. Home
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    5. Museums & FoundationsPublic Finance

    Museums & Foundations

    We achieve cost-effective and efficient financings for museums and cultural facilities that maximize flexibility for fundraising and large capital donations.

    Overview

    The intersection of charitable giving and exempt financing is rich and complex territory, requiring educated, smart, and sensitive counsel. Our attorneys are among the best in the business.

    We represent numerous museums, colleges and universities, hospitals, and community foundations in all aspects of their charitable giving, from restricted gifts to complex planned giving. These capabilities are fueled by our extensive knowledge about and experience with the investment of charitable assets.

    As counsel in complex structured transactions, we focus on maintaining the integrity of the tax exemption on bonds being issued. Our lawyers are often involved in deals that develop tax structures for preserving the borrower’s endowment without yields that restrict its investments.

    Representative Experience

    • Whitney Museum of American Art—Served as institution’s counsel in connection with the closing on $125 million financing in a new bond issue through the Trust for Cultural Resources of the City of New York. We advised the institution on the structure of the fixed-rate bond issue. The financing, done with the museum’s own “A” rating, was one of 2011’s most noteworthy arrangements for New York cultural institutions. Proceeds of the issue go toward financing construction of the museum’s new facility downtown in the Meatpacking District.
    • Lincoln Center for the Performing Arts (LCPA)—Served as counsel to the underwriters of the inaugural financing for the LCPA. In August 2007, the LCPA selected us to serve as their counsel in contemplation of a second financing. In February 2008, with the collapse of the auction rate market, we assisted the LCPA in purchasing its auction rate bonds and refinancing them with variable rate bonds secured by a letter of credit. We worked with the LCPA to obtain long- and short-term ratings for the first time. We also represented the LCPA in a $100 million new money financing through the Trust for Cultural Resources of the City of New York and represented the institution in an additional $100 million new money financing through the Trust.

    Our Team

    See Full Team
    • Virginia Wong

      Partner / Practice Group Leader, Project Finance and Public Finance
      • New York
      • Office:212.940.3028
      • vwong@nixonpeabody.com
      Virginia Wong
    • Christopher J. Reitzel

      Partner
      • New York
      • Office:212.940.3016
      • creitzel@nixonpeabody.com
      Christopher J. Reitzel
    • Jade E. Turner-Bond

      Partner
      • Los Angeles
      • Office:213.629.6141
      • jturnerbond@nixonpeabody.com
      Jade E. Turner-Bond
    • Rudy S. Salo

      Partner
      • Los Angeles
      • Office:213.629.6069
      • rsalo@nixonpeabody.com
      Rudy S. Salo
    • Mitchell Rapaport

      Partner
      • Washington Dc
      • Office:202.585.8305
        Mobile:202.288.4005
      • mrapaport@nixonpeabody.com
      Mitchell Rapaport
    • Julie K. Seymour

      Partner
      • Chicago
      • Office:312.977.4353
      • jkseymour@nixonpeabody.com
      Julie K. Seymour
    See full team

    Insights And Happenings

    • Press Release

      Los Angeles Business Journal names Nixon Peabody’s Thaddeus Stauber as a “Leader of Influence”

      July 12, 2021
    • Press Release

      Nixon Peabody represents the University of Oklahoma and the OU Foundation in upholding of internationally celebrated art-sharing settlement

      Nov 3, 2020
    • Press Release

      U.S. District Judge Grants Motion to Dismiss in Favor of the Kingdom of the Netherlands and Twenty Dutch Museums

      July 9, 2020

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