Urban myths persist... This from the official Statue of Liberty National Monument site:
"... Fund Raising for 1980's Renovation of Lady Liberty and Ellis Island:
$ 500,000 in January 1983
$ 277 million by July 1986:
$ 150.6 million from direct mail, foundations, collections
$ 66.3 million sponsorships
$ 51.9 million stamps, books, and coins
$ 8.2 million licensed products, t-shirts, souvenirs
$ 305.4 million by 6 March 1987
Fundraising Costs: 12%
(The extensive restoration project was completed on time and budget. Only private funds were used to pay for it as well as restore much of Ellis Island...)