Construction - Funding (tate website)

The conversion of Bankside Power Station into Tate Modern has cost £134 million.

Tate Modern was designated a landmark project for London by the Millennium Commission, who contributed £50 million of lottery money towards the scheme.

English Partnerships, the government's urban regeneration agency, provided £12 million to purchase the site and pay for the removal of the machinery.

The Arts Council of England contributed £6.2 million of lottery money towards the conversion of Level 4 of the gallery into a temporary exhibitions space.

The London Borough of Southwark was a key initial investor, recognising the regeneration and employment potential the scheme offers the Bankside and Southwark areas.

The Gallery has also received significant donations from other public, private and charitable sources.

Founding Corporate Partner Scheme

The Founding Corporate Partner Scheme, launched in 1998, has so far raised almost £4 million for Tate. The money, which is used for both capital costs and revenue costs over the four Tate sites, has been essential to realising two new Tates for London. Part of the £4 million that has been raised by the Founding Coporate Partners has gone towards the building of Tate Modern.

The scheme involves a flexible range of benefits which can be structured to meet the specific needs of Founding Corporate Partners. Partners make a commitment lasting up to five years and in return for their investment, gain exclusive benefits including entertaining, employee education events, private views and special access behind the scenes.