The National Postal Museum is the newest of the Smithsonian Institution's museums. The new museum is located near the U.S. Capitol and next to Union Station. It is the nation's first major museum devoted to postal history and philately. The U.S. Postal Service formed an agreement with the Smithsonian Institution in 1990 to provide funds for renovation and construction of the museum at the site of the former Washington, DC, Post Office Building. The Postal Service also contributes to the annual operating cost of the museum, which is open and free to the public.