Financial problems at LA's Museum of Contemporary Art drew the attention of the State Attorney General when trustees paid bills with endowment money earmarked for other purposes. Two years ago, LA billionaire Eli Broad promised to match funds raised by the museum up to $15 million. In the first fiscal year of the bailout, the museum raised $6.25 million, leaving $8.75 million of Broad's money for the fiscal year that just ended. How much has MOCA raised to match it? Zero. MOCA has also undergone months of staff turmoil, culminating in last week's firing — or resignation — of Chief Curator Paul Schimmel, who's credited with giving the museum a first-class international reputation.
Is MOCA Still in the Hole?
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