May donates $1 million to St. Louis museum

The May Department Stores Co. donated $1 million to the St. Louis Art Museum to support a permanent collection gallery of German painter Max Beckmann.

The former CEO and grandson of one of the founders of May Department Stores, Morton May, donated the funds to set up the museum's Beckmann collection. May and Beckmann were friends, and May was one of several private collectors. The company donated more than 5,000 works of art to the museum, nearly 20% of its collection.

"The link of the May Company name and the renowned Beckmann collection creates a terrific synergy that honors our company's past and provides for the museum's future," John Dunham, chairman, president and chief executive of May said in a statement.

The St. Louis-based May Department Stores Co. was recently acquired by Cincinnati-based Federated Department Stores.