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The Boston Globe

Theater & art

ICA completes $50 million fund-raising campaign

The Institute of Contemporary Art has completed a $50 million fund-raising campaign meant to boost its endowment, pay off a small amount of debt from the construction of its building, and support its operating budget over the next five years.

The campaign’s completion, announced to the museum’s trustees on Wednesday, marks an important step in the ICA’s effort to create more year-to-year stability. The museum’s endowment will increase from just under $10 million to $25 million. That’s still small for an institution that has a $13 million annual budget and has had around 200,000 people a year visit the Fan Pier building it opened in 2006.

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