The National Museum of American Jewish History said it would come out of its Chapter 11 reorganization on or around September 15, citing a $ 10 million pledge from former administrator Mitchell Morgan and his family.
NMAJH said the commitment allows it to eliminate its debt and paves the way for stability.
NMAJH initially filed for reorganization under Chapter 11 of the United States Bankruptcy Code on March 1, 2020; the reorganization plan was confirmed on September 1 by Chief Justice Magdeline D. Coleman of the United States Bankruptcy Court for the Eastern District of Pennsylvania.
“We live in a time that requires us to reflect on our values, and a time when our country needs institutions like the National Museum of American Jewish History that represent freedom and inclusiveness,” Morgan said. “We hope this will be a contribution that will encourage more people to play a role in the future of the museum by offering different perspectives on how immigrants and religious minorities have positively impacted our great nation for centuries. “
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“Mitch is a mensch and a hero in the Jewish community,” said NMAJH CEO Misha Galperin. “We strive to carry the story of NMAJH into its next decade. Today we are full of energy for our bright future.
Under the terms of the engagement, the Morgan family will purchase the museum building on terms favorable to the museum, providing the necessary money for NMAJH to pay off its debt. The facilities will be re-let at a nominal price. The museum will have the possibility of buying back all of the installations at a later date.
NMAJH will continue to operate virtually while developing a reopening strategy.
Since its galleries were closed to the public, the NMAJH has said it has focused on strategic planning, including promoting its inclusion in the Smithsonian Institution. NMAJH said in its statement that 37 members of the United States House of Representatives and 23 senators have championed legislation encouraging the Smithsonian to explore a plan to acquire NMAJH.