Actor Alec Baldwin has donated $1 million to the New York Philharmonic in honor of the organization's departing president, Zarin Meheta, who is stepping down after 12 years.
Baldwin, who joined the Philharmonic's board in March 2011, gave the money from proceeds he earned from his commercials with Capital One Bank, according to an article in Crain's New York Business.
"I have loved classical music all of my life," Baldwin said in a statement. "But Zarin Mehta made my dream of becoming part of the world of classical music come true."
In addition to being a member of the board, the "30 Rock" actor has hosted the organization's weekly radio show since 2009. In a statement, Meheta said that Baldwin's "role as our radio host has brought us many new listeners, as well as much appreciated attention. And his active roles as board member, gala benefit chairman, and high-profile and magnanimous donor have benefited us and our field."
Meheta, who will leave his post at the end of the Philharmonic's 2011-2012 season, will be replaced by incoming executive director Matthew VanBesien.
This isn't the only big influx of money going to an arts institution. Crain's also reported that the New York City Council approved a bill last week that secured $156.4 million in funding for cultural and art institutions in the city's fiscal year 2013 budget. It represents an increase of $3.6 million from last year.
You can read the full report on Baldwin's donation in Crain's.