Los Angeles' prestigious but chronically underfunded Museum of Contemporary Art has fallen into crisis. Museum Director Jeremy Strick said MOCA is seeking large cash infusions from donors, and this week he did not rule out the possibility of merging with another institution or sharing its collection of almost 6,000 artworks.
On the Op Ed pages of today's LA Times, LA philanthropist Eli Broad issued what might be called a "match challenge" to save MOCA from having to merge with another museum or even have to sell some of its collection to cover operating costs. Broad issues his match challenge in the opening paragraph to his piece
I'd like to make a proposal to the MOCA board and to the civic angels of Los Angeles. I'll step up if you do too. The Broad Art Foundation is prepared to make a significant investment in MOCA -- $30 million -- with the expectation that the museum's board and others join in this effort to solve the institution's financial problems. It is vital that the museum remain on Grand Avenue, keep its collection and continue its tradition of world-class exhibitions.Let's hope that the "civic angels" that Broad refers too haven't had their brokerage and hedge fund accounts decimated to an extent that they've had their wings clipped.