Thursday, June 11, 2009

Nonprofit Buys San Francisco Aquarium from Private Investors

The San Francisco Chronicle reports that the nonprofit Bay Institute expected to complete the purchase of San Francisco's Aquarium of the Bay yesterday for $9.5 million.  While the article is silent regarding who currently owns the aquarium, Bay Institute fundraising literature states that the 13-year old aquarium is currently owned by commercial investors.  The article also notes that the facility had been appraised at $18.4 million as recently as last year.

LHM

http://lawprofessors.typepad.com/nonprofit/2009/06/nonprofit-buys-san-francisco-aquarium-from-private-investors-.html

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