The Portland Museum of Art in Portland, Maine, has announced a $5 million matching gift from philanthropists and art collectors Judy and Leonard Lauder.

The gift is designed to encourage others to contribute to the museum's $15 million Focused Endowment Initiative, a fundraising campaign aimed at bolstering the museum's endowment. In recognition of the gift, the PMA director position will be named after the Lauders.

"This is a transformative gift and one of the largest in the history of the Portland Museum of Art," said Mark H.C. Bessire, the inaugural Judy and Leonard Lauder Director of the Portland Museum of Art. "When we complete the Focused Endowment Initiative — spurred by the remarkable contributions of Judy and Leonard Lauder — the museum's endowment will have grown to almost $40 million, thus providing the PMA with the stronger foundation it needs to effectively continue its mission."