The Tate is an institution in the United Kingdom comprised of four art museums - Tate Britain, Tate Liverpool, Tate St Ives, and Tate Modern. It houses the UK's collection of British art as well as international modern and contemporary art. Founded in 1897 as the National Gallery of British Art, it was renamed the Tate Gallery in 1932 after sugar magnate Henry Tate when its role expanded to include modern art. It features over 10 collections and is known for hosting the prestigious annual Turner Prize exhibition.