MOCA Trustees Nearly Triple Endowment to $60 Million, Campaign for Independence
“LOS ANGELES—The Museum of Contemporary Art, Los Angeles announced today that the Board of Trustees have obtained commitments over the past two weeks that will boost the endowment to more than $60 million, a record high in the museum’s 34-year history and a reflection of the board’s commitment to keep MOCA as a museum dedicated solely to contemporary art.
The recent board commitments are part of MOCA Independence, a fundraising campaign to raise funds and bring the endowment to $100 million launched to help ensure the museum’s ongoing independence, which will be chaired by Board President Jeffrey Soros and Trustee Eugenio Lopez.
“The financial support we have already raised demonstrates the commitment of the board to ensuring that MOCA remains a world-class independent contemporary art museum, and we call on others to join in this campaign,” said Soros. “We firmly believe that the best future for the museum is one that continues our history of making our preeminent collection available to the public and of presenting innovative, scholarly programming.”
“In my time on the board, I have seen and experienced an exemplary exhibition program, record attendance, the continued expansion of MOCA’s outstanding collection, and a deep respect and appreciation for MOCA around the world,” said Lopez. “I am convinced that MOCA can best serve its mission and our community in Los Angeles and far beyond by continuing to operate solely as a contemporary art museum. With a healthy cash reserve and no debt, boosting our endowment gives us the financial security to fulfill our mission.”