Well, not exactly: There is, only it is virtual, and it is a hoax-or, perhaps, an attempt to virally promote the Corbis image collection. "Through the leadership of its mostly imaginary Trustees and staff, the MofAA manifests its commitment to the arts by acquiring, preserving and displaying collections of superior quality," says the announcement, which goes on to quote some of the fictitious executives.

MofAA's plush Flatiron address and Corbis' references to "aggressive construction" have been confusing industry insiders for some time. Photo District News' Daryl Lang was curious enough to take a walk, to discover that 912 Broadway did not exist.

What does exist is a Web site, which has information on 10 exhibits, nine of which are not publicly accessible-unless you are a Corbis customer, which isn't obvious. Clicking on any of the exhibits produces an invitation to sign up for a membership with a suitably aristocratic price tag, which gives the first hint of something not quite right.

Further investigation reveals a near-unreadable light-grey disclaimer at the bottom of the page: "MofAA is a creation of Corbis Corporation. It is not a nonprofit corporation. The individual names and locations displayed are not intended to depict real services, businesses or trademarks. Any resemblance to any actual services, businesses or trademarks is entirely coincidental."

The joke is somewhat subtle. The site's looks and functionality are enough to confuse even longtime industry insiders. For instance, Pino Granata actually tried to register.

Insider humor aside, some of the content will surely raise eyebrows. According to Corbis, MofAA's news column features happenings both real and fanciful. One reads: "PARIS, FRANCE: While laying foundation for the Musee de Fromage, construction workers unearthed a time capsule containing many missing images from the infamous Sygma archive. Thousands of never-before-seen photos of important political and news events from the past 50 years were buried here in a bureaucratic mix-up decades ago and the location was never established." If Corbis could only unearth some of the negatives that belonged to Arthur Grace, the Sygma shooter to whom Corbis was ordered to pay $667,685 in January for loss of his images.

Another remaining question is whether the industry will laugh with Corbis or at it. Lang, for one, closed his recent story on MofAA with: "How's that whole profit thing working out?"