The Tel Aviv Museum of Art has announced a $15 million gift from the Paulson Family Foundation in New York City.

Made in recognition of the ninetieth anniversary of the museum's founding, the gift will support extensive renovations of the iconic main building, which was designed in a soft-Brutalist style by architects Dan Eytan and Yitzhak Yashar and opened in 1971. Planned upgrades to the 270,000-square-foot facility, which will be renamed the Paulson Family Foundation Building, include expanded infrastructure, adjustments to improve accessibility, and "green planning" to install environmentally efficient systems and promote urban sustainability.

"As one of the most important cultural institutions in Israel, [the Tel Aviv Museum of Art] plays a key role in the art scene in Israel and around the world. Its collections include works by the great masters, such as Van Gogh, Cézanne, Klimt, and Picasso, alongside works by the leading artists in Israel," said John A. Paulson, CEO of the Paulson Family Foundation and president of investment firm Paulson & Co. "[It] produces an international artistic dialogue, and no less importantly, drives the creative and vibrant energy of the city of Tel Aviv-Yafo."

"The donation will enrich and expand the range of experiences for visitors...which is at the heart of everything we do," said Tel Aviv Museum of Art director Tanya Coen-Uzzielli. "This is crucial because we are as much an educational and civic resource as we are a cultural one. The significance of an endowment means that we can continue to update and improve the way we present our exhibitions and collections. This is a truly visionary gift."