While there is no definite timeline, organizers said they hope the film museum — housed in a landmark department store building that is now part of the LACMA campus along Wilshire Boulevard — could open in three to five years. Over the decades, the academy has accumulated a huge collection of goods related to movies, including rare film prints, posters and scripts. Though they would not estimate the costs, organizers still will need to raise a huge amount of cash to convert the historic May Co.