Thursday, November 20th, 2008
MOCA Crisis
Image: Liz O Baylen / Los Angeles Times
It’s hard to feel bad about losses incurred by international auction house giants or millionaire collectors in the past few weeks, but it comes with heavy heart that we report the latest victim of the financial crisis – Los Angeles MOCA. The LA Times reports that with practically all of its remaining funds dried up, the museum is struggling to meet operating costs. While MOCA is seeking a large infusion from donors, it is weighing all possibilities, including a potential merger with another institution. Museum Director, Jeremy Strick says MOCA is in talks with several partners, but remained firm stating shutdown or takeover were not likely. “All the possibilities being explored involve MOCA retaining its identity, continuing its program, expanding its collection,” Strick said, adding, “I think it is time for this city to step forward and offer the kind of financial support commensurate with the work being done.”
Want to do your part? Take a few minutes to become a member, and then use your 10% discount on something from their museum store
November 25th, 2008 at 11:06 am
the art collectors » Broad Injects Over Millions Into LA Art Institutions said:
[…] stop here. This week he offered an additional $30 million to help keep Los Angeles MOCA afloat. As previously reported, the museum has burned up its funds and is is on the brink of financial disaster. In a Nov. 21 LA […]
December 18th, 2008 at 12:42 pm
the art collectors » The Big Takeover said:
[…] of Art’s proposed “merger” with the Los Angeles Museum of Contemporary Art. As previously reported, MOCA is at the brink of financial collapse and is in dire need of rapid injection of […]
December 25th, 2008 at 12:52 pm
the art collectors » MOCA Accepts Broad’s $30 Bailout said:
[…] collector and founding museum trustee, Eli Broad’s offer of $30 million to help resuscitate the desperate institution, whose finances have been reeling closer and closer towards […]
December 25th, 2008 at 1:03 pm
the art collectors » First MOCA, Now The National Academy said:
[…] a picture all too similar to MOCA’s recent troubles, the National Academy of New York is on the verge of financial collapse. Following MOCA’s […]
February 2nd, 2009 at 4:44 am
the art collectors » To Sell Or Not To Sell? - Brandeis Closes Rose Art Museum said:
[…] the Rose’s situation apart from the recent financial troubles to hit other museums, including MOCA and the National Academy, both of which were in critical condition and struggling to meet operating […]
May 7th, 2009 at 12:28 pm
the art collectors » MOCA Benefit Auction said:
[…] more from us on the MOCA’s recent financial here […]