LA MoCA Triples Endowment to $60 Million

The Museum of Contemporary in Los Angeles has, over the past two weeks, obtained commitments that will boost its endowment to more than sixty million dollars, a record high in the institution’s thirty-four-year history. The recent commitments are part of a fundraising campaign led by board president Jeffrey Soros and trustee Eugenio Lopez that was launched to ensure the museum’s ongoing independence—and prevent a merger with, as reported here, the Los Angeles County Museum of Art. Said Lopez: “I am convinced that LA 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.”