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MOCA meets endowment goal, sets another

L.A.'s Museum of Contemporary Art has reached its goal of a $100-million endowment, and museum leaders say they'll keep their fundraising campaign going with a new objective of $150 million.

A written announcement listed 29 donations from individuals, couples or foundations, all but two of them from board members, their foundations or their families. The campaign also has elicited an unspecified number of anonymous gifts. MOCA provided no further details about the amounts. 

TIMELINE: MOCA in flux

Museum leaders also said it’s possible, but not certain, that MOCA facilities will be named in honor of the campaign’s top donors.

“There’s been this tremendous push by committed people who should commit and did commit,” said Maria Bell, who, as co-chair of MOCA’s board with David Johnson since 2009, has helped oversee the museum’s recovery from near financial ruin after the fall 2008 meltdown of global investment markets. 

GRAPHIC: MOCA’s ups and downs with Jeffrey Deitch

Bell and other museum leaders said they see the successful campaign as a turning point after five years of financial instability that has led to budget and staffing cuts, including a winnowing of the curatorial staff from eight to the current two through layoffs or resignations.

For the complete story, check back later with Culture Monster.

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