CHICAGO, IL.- The Terra Foundation for American Art announces the appointment of Anne Munsch to the position of Chief Financial Officer (CFO). Munsch, who has more than 20 years of finance and management experience, will assume the role in September.

“In addition to her acuity in the realm of finance, Anne Munsch delivers nearly two decades of invaluable museum expertise, which will be vital in advancing our ‘museum without walls’ model and bringing the historical art of the United States to audiences across the globe,” explained Terra Foundation President and CEO Elizabeth Glassman. “We’re thrilled to welcome Anne to our team.”

Previously, Munsch served as CFO at the Peabody Essex Museum, in Salem, Mass., where she oversaw institutional accounting and provided executive and financial leadership for the museum’s $650 million advancement campaign and facilities expansion. Prior to that, she was Director of Institutional Resources—and later CFO—at the Indianapolis Museum of Art.

“I look forward to the unique opportunities and demands of the Terra Foundation’s international vision and programs, and I’m eager to influence its role in sharing American art worldwide,” stated Munsch.

Munsch will succeed outgoing Executive Vice President and CFO Don Ratner, 68, who has served at the Terra Foundation since 1999 and will retire at the end of the year. During his tenure, Ratner was instrumental in increasing the organization’s endowment by $170 million and in spearheading numerous high-value real estate transactions, including the successful development and sale of the former Terra Museum of American Art site, on Michigan Avenue, in Chicago.

“Don Ratner has served our institution and our many stakeholders with great commitment, creativity, and talent. The favorable position we are in today is due in large part to Don’s work through our challenging years, as well as the present,” said Gerhard Casper, Chairman of the Board of the Terra Foundation.

With financial resources of more than $350 million, an exceptional collection of American art from the colonial era to 1945, and an expansive grant program, the Terra Foundation is one of the leading philanthropic institutions focused on American art, supporting exhibitions, academic programs, and research worldwide. Since 2005 the foundation has provided more than $62 million for nearly 500 exhibitions and education and scholarly programs in more than 30 countries, including Australia, Brazil, China, France, Germany, Japan, Mexico, the Netherlands, Peru, Russia, South Korea, Spain, Sweden, and the United Kingdom.

According to Dan Monroe, Rose-Marie and Eijk van Otterloo Director and CEO of the Peabody Essex Museum, “Anne Munsch is a recognized leader among museum finance professionals, and over the last five years she has occupied an integral role in the strategic growth of our institution, both physically and fiscally. I’m confident that she will bring the same dedication and drive to advancing the Terra Foundation’s global mission.”