The Tate Britain art gallery in London has raised the £45m required to complete a major renovation.
Nine of the building's gallery rooms are being refurbished, as are the entrance area and other public spaces.
The target has been reached thanks to a £3m grant from the Heritage Lottery Fund and £1m given by Tate Members.
The other £41m has been donated by private benefactors. The galleries will open in May 2013, to be followed by new visitor facilities and education rooms.
The Tate's British art collection will be re-hung in a new chronological display in the refurbished galleries.
They will have "much improved illumination", mainly thanks to increased natural lighting, while the reception will be moved from the rotunda to its original position in the foyer.
Donors to the project include oil trader Ian Taylor and the Sainsbury family and philanthropist Dame Vivien Duffield, daughter of tycoon Charles Clore.
Money has also been provided from the estates of business figures including Sir Isaac Wolfson, Sir John Paul Getty, Sir Siegmund Warburg and Willard Garfield Weston.
Tate Britain director Penelope Curtis said the building's architecture and art collection would "enhance each other in a way which I hope and believe will reward our many supporters".
Tate director Sir Nicholas Serota said: "I am extremely grateful to all the donors, foundations and the Heritage Lottery Fund who have helped us reach our funding target.
"This project provides a much needed upgrade to Tate Britain and will hugely improve both the galleries and facilities for our visitors."
Tate Britain was opened in 1897 and it is visited by around 1.5 million people every year.
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