DALLAS MUSEUM OF ART PLANS $70-MILLION FUND CAMPAIGN

DALLAS — The Dallas Museum of Art will launch a campaign to acquire $10 million worth of art each year beginning in 1990, a move that could rank the museum among the country’s top museums in terms of purchasing power.

The board of trustees unanimously approved the long-range plan, which would be financed through $5 million each in purchases and gifts. A $70-million endowment fund-raising campaign will begin in the fall.

Of this, $60 million is earmarked for the museum’s art-acquisition endowment, currently at only $2 million. Interest generated by the endowment would fund the proposed $5 million in annual acquisitions. Another $10 million would fund the museum’s program endowment, currently $8.4 million. Expanded exhibition, educational and other programs will be funded by interest from this endowment.

The only American art museums with larger endowments are the J. Paul Getty Museum in Malibu, Calif., the Kimbell Art Museum in Fort Worth, Tex., and the Cleveland Museum of Art.