NEW YORK (AP) -- New York's American Folk Art Museum has long been plagued by financial problems.
But it's now celebrating its 50th anniversary with a new exhibition and renewed optimism.
At a preview celebrating its 50th anniversary Tuesday, the museum discussed its financial status and projection of its future.
It said that in September it received a $2 million pledge from a longtime trustee and another $1 million commitment from other trustees and supporters.
Its strategic plans include long-term loans to other institutions and collaborative arrangements with other museums.
The museum near Lincoln Center houses traditional folk art dating to the 18th century.
The collection includes 5,000 quilts, weather vanes, textiles, paintings, sculptures and works by self-taught artists.
------ Online: www.folkartmuseum.org
(Copyright 2012 by The Associated Press. All Rights Reserved.)
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