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The cost of the museum is estimated to be $18 million. Thanks to the State of Florida’s Alec P. Courtelis Matching Gift Program, only $9 million in private donations will be required. The honorary chairs of the fundraising committee are U.S. Senators Bill Nelson and John McCain, former "Good Morning America" host David Hartman, New Orleans Saints owner Tom Benson, and [[Nancy Fetterman]], UWF Trustee and Admiral Fetterman's widow.
In early the first half of [[2007]], the ''[[Pensacola News Journal]]'' announced they would co-sponsor sponsored a "Do It!" fundraising campaign for the museum, in which members of the community are were invited to make personal donations that are were matched by the "Do It!" corporate partners, which include included the News Journal, the [[Gulf Power Foundation]], [[McGuire's Irish Pub]], the [[Nature Trail]] subdivision and [[Whitney Bank]]. Those monies will were then be doubled again by the Alec P. Courtelis Matching Gift Program, so the campaign's goal of $250,000 will actually yield yielded $1 million towards for the museum.
Other donations that have already been made to the museum (and that will be doubled by the matching program) include:
*$500,000 donated by [[Ted Brown]] and [[Kathy Horton-Brown]] to honor Brown's father, Captain [[S. J. Brown]], founder of [[Brown Marine Service]].
*$100,000 donated by [[Robert C. Rosasco]] to create a conference room in honor of timber magnates [[Albert T. Rosasco|Albert T.]] and [[William T. Rosasco]].
*Navy memorabilia salvaged from [[Trader Jon's]], to be displayed in the museum's first floor restaurant, donated by law firm of [[Aylstock Witkin & Sasser}} ]] and valued at over $2 million.
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