Anonymous donor gives over $5 million to effort to save West Newton Cinema
Anonymous donor gives over $5 million to effort to save West Newton Cinema
An anonymous donor gave $5.2 million to help purchase and renovate the 87-year-old movie theater, according to the West Newton Cinema Foundation, a nonprofit formed by residents to save the theater from demolition.
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“donor gave $5.2 million”
“had raised about $400,000 from over 700 grassroots donations”
“says $3 million of the donation will go toward the group's primary — and most time-sensitive — goal of raising $5.6 million to buy the theater”
"We do not quite have enough money for the purchase itself yet, but we are drawing close to that," Heilig said.
Hmm. I thought $5.2M + $400k was equal to $5.6M. Sounds like the primary goal is to make 2.2 million, 2.6 if you include the 400k raised, disappear. Sounds super dodgy.
The goal is to raise $14m, for purchase, renovations, and operations. The article says that $2m of the $5m is going to be used in a campaign for matching donations. It's a common tactic to get more people to donate. Even though they already have that money, they aren't adding it to their total until more people chip in. If it works, it will get them up over $7m.