. Annals of the Smithsonian Institution. Smithsonian Institution. 318 Annals of the Smithsonian Institution 1999 monwealth of Virginia, which includes providing the basic infrastructure for roads, landscaping, and parking. The Smithsonian has entered into an agreement to purchase the Victor Building, an office building near the Old Patent Office Building, which houses the National Portrait Gallery, the National Museum of American Art, and the Archives of American Art. The purpose of the acquisition is to move adminis- trative offices currently in leased space, reclaim gallery space in the Pate
. Annals of the Smithsonian Institution. Smithsonian Institution. 318 Annals of the Smithsonian Institution 1999 monwealth of Virginia, which includes providing the basic infrastructure for roads, landscaping, and parking. The Smithsonian has entered into an agreement to purchase the Victor Building, an office building near the Old Patent Office Building, which houses the National Portrait Gallery, the National Museum of American Art, and the Archives of American Art. The purpose of the acquisition is to move adminis- trative offices currently in leased space, reclaim gallery space in the Patent Office Building by relo- cating administrative and support functions, and provide additional program space. Fund raising and savings from amounts currently budgeted for leases will service debt for this $106 million facility. Planned occupancy is in fiscal year 2000. The groundbreaking ceremony for the National Museum of the American Indian on the National Mall was held in 1999. The musem is scheduled to open in 2003. This project is being funded by a com- bination of federal appropriations and private fund- ing. At the end of the year, plans were under way to raise the final 20 percent of the project costs. In support of these projects, the Smithsonian established Smithsonian Business Ventures and appointed Gary M. Beer, previously president and CEO of the Sundance Group, as CEO of that organi- zation. Smithsonian Business Ventures is a separate entity within the Institution approved by the Board of Regents with a goal of doubling business revenue in five years. The Smithsonian's national capital campaign, currently in its "quiet phase," continued to significantly increase giving to the Institution. Fiscal Year 1999 Results Operating revenues received by the Institution in fis- cal vear 1999 from all sources totaled $ mil- FY 1999 Sources of Net Revenues General Trust Gov't Grants & Contracts Donor/Sponsor Federal Appropriations lio
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