The National Museum of American Jewish History in Philadelphia has announced that a $10 million commitment from former trustee Mitchell Morgan and his family will enable the organization to emerge from Chapter 11 reorganization.

The commitment allows NMAJH, which initially filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code on March 1, 2020, to eliminate its debt and provides a pathway to stability for the only museum in the nation dedicated exclusively to exploring and interpreting the American Jewish experience. The Morgan family will purchase the museum building on terms that are highly favorable to the organization and lease the facilities back at a nominal rate, alleviating the costs of day-to-day operations. The museum will have the option to buy back the building at a later time. In addition, a number of the museum's individual bondholders, including Morgan, forgave debt totaling $14 million.

While it develops a reopening strategy, the museum, which is being promoted for inclusion into the Smithsonian Institution, will continue operating virtually with online programming.

"We're living in a time that requires us to reflect on our values, and a time when our country needs institutions like the National Museum of American Jewish History that represent freedom and inclusivity," said Morgan, founder and CEO of Morgan Properties and co-founder of the Morgan Family Foundation,who served on the museum board for twelve years. "Our family's commitment is the gift of time to ensure the museum can offer all its visitors the chance to explore American history through the lens of the Jewish experience. We wish this to be a contribution that will encourage more people to play a role in the museum's future by providing different perspectives on how immigrants and religious minorities have positively impacted our great nation for centuries."

(Photo credit: Jeff Goldberg/Esto)