The Conrad N. Hilton Foundation has recently forgiven a $1 million loan made to the Terry Lee Wells Nevada Discovery Museum.
The $1 million loan was part of the campaign that raised help funds to build the museum.
Fundraising for The Discovery began in 2005. Nearly $21 million was raised to buy the former Reno City Hall building, perform renovations, and fund the design and construction of the museum's galleries and exhibits.
The nonprofit museum opened to the public on September 10, 2011 with the loan to be repaid in 2015, and was the museum's only outstanding debt.
"The forgiveness of the Hilton Foundation loan is an exciting vote of confidence for The Discovery," said Mat Sinclair, Executive Director of The Discovery. "Being a debt-free organization opens up a number of new funding opportunities that will help the museum continue to grow and flourish."
To learn more about The Discovery, go to www.nvdm.org