The Founding Corporate Partner Scheme, launched in 1998, has so far raised almost £4 million for Tate. The money, which is used for both capital costs and revenue costs over the four Tate sites, has been essential to realising two new Tates for London.
To date seventeen companies have become partners:
- BNP Paribas
- CGU plc
- Clifford Chance
- Goldman Sachs
- Lazard Brothers & Co Limited
- London Electricity plc, EDF Group
- Pearson plc
- Prudential plc
- Rolls-Royce plc
- Railtrack plc
- Warburg Dillon Read
The scheme involves a flexible range of benefits which can be structured to meet the specific needs of Founding Corporate Partners. Partners make a commitment lasting up to five years and in return for their investment, gain exclusive access for entertaining and employee education events including behind-the-scenes tours.
Part of the £4 million that has been raised by the Founding Corporate Partners has gone towards the building of Tate Modern at Bankside, which opens on 12 May 2000. Surveys by MORI and the London Business School, evaluating the economic impact of the development, have suggested that the Gallery will add as much as £90 million to London’s gross domestic product. Tate Modern will be linked to the City by the new millennium footbridge which opens in June. The gallery will contribute to London’s position on the international cultural map and make the City more attractive to foreign investors and key employers.
Sir Nicholas Serota, Director, Tate, commented:
‘I am delighted that our Founding Corporate Partners have supported Tate’s vision. Their commitment is essential at this critical moment in Tate’s development.’