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ENTERTAINMENT
January 7, 2014 | By Mike Boehm
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.
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ENTERTAINMENT
March 19, 2014 | By Mike Boehm, Los Angeles Times
Philippe Vergne says his first task as the new director of L.A.'s Museum of Contemporary Art is not to act quickly but to think and plan deeply. On the job less than two weeks after extensive past experience as director of New York's Dia Art Foundation and top curator and deputy director of the Walker Art Center in Minneapolis, Vergne spelled out no immediate changes Wednesday and said he'll look to MOCA's past achievements for guidance. GRAPHIC: MOCA's ups and downs with Jeffrey Deitch "The most important priority is to look at the programming and reimagine the program" of exhibitions and events, he said as he joined Lilly Tartikoff Karatz and Maurice Marciano, MOCA's new board co-chairs, and Maria Seferian, the museum's interim director before his arrival, for a discussion with Los Angeles Times reporters and editors.
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ENTERTAINMENT
April 17, 2013
Trustees of the Museum of Contemporary Art announced Wednesday that they have raised more than $50 million since the middle of March for the museum's endowment. A larger endowment is widely seen as the first step to turning around the troubled institution. Last month trustees identified $100 million as the goal for its endowment campaign, saying that donations and pledges had brought it up to $60 million. But they declined to name specific donors or provide a timeline for when they would receive the money.
ENTERTAINMENT
March 13, 2014 | By Mike Boehm
With investment markets booming, the J. Paul Getty Trust, the world's richest visual art institution, saw its endowment rise to $6.2 billion during 2013, approaching its peak of $6.4 billion in mid-2007 before the Great Recession hit. An audited financial statement posted on the Getty's website reflects investment gains totaling $766.74 million from mid-2012 to mid-2013, enough to cover expenses while socking away about $534 million for the endowment....
ENTERTAINMENT
March 13, 2014 | By Mike Boehm
With investment markets booming, the J. Paul Getty Trust, the world's richest visual art institution, saw its endowment rise to $6.2 billion during 2013, approaching its peak of $6.4 billion in mid-2007 before the Great Recession hit. An audited financial statement posted on the Getty's website reflects investment gains totaling $766.74 million from mid-2012 to mid-2013, enough to cover expenses while socking away about $534 million for the endowment....
ENTERTAINMENT
March 26, 2013 | By Mike Boehm
This post has been corrected. See below for details. L.A.'s Museum of Contemporary Art announced Tuesday that it aims to build its endowment to $100 million and has commitments lifting the total above $60 million as the campaign begins. The museum's investments, which include endowment funds, stood at $23 million early this year, according to information obtained by The Times. Jeffrey Soros, president of MOCA's board, and longtime museum trustee Eugenio Lopez will chair the campaign, which has been dubbed "MOCA Independence.
CALIFORNIA | LOCAL
May 31, 1989 | From United Press International
An irate father is threatening to stop paying on a $35,000 endowment to the University of Tennessee because campus police wrote his son a $35 parking ticket. "It's a matter of principle," said Gene Mowery, whose son, Russell, got the ticket last month for parking in a fire lane. "The administration staff and the president of the college have never tried to do anything for students' parking." Russell Mowery insists the spot was not marked as a fire lane. He said he left his car in an unmarked space at the end of a line of legally parked cars, a lesser offense for which the fine would be about $10. Gene Mowery said he will keep paying the endowment if the university lowers the fine against his son to $10. Charles Brakebill, associate vice president for development, said the endowment will have nothing to do with whether the fine is decreased.
ENTERTAINMENT
June 1, 1989 | ZAN DUBIN
In the face of financial woes, Houston's esteemed Menil Collection, a museum housing one of the country's finest private art collections, has disclosed a $35-million endowment campaign. Without an endowment, the museum eventually would have to close its doors, said Dominique de Menil, the museum's founder and chief patron. So far, about $26 million toward the endowment has been raised, she said--including her own $17.5 million gift. The 2-year-old museum, containing 10,000 objects from ancient to contemporary times assembled over 40 years by De Menil and her late husband, John, is governed by the Menil Foundation, which the couple established in the 1950s.
ENTERTAINMENT
February 6, 2010 | By bloomberg news
The San Francisco Museum of Modern Art said it raised $250 million to boost its endowment and build a new wing that will triple the size of its galleries and house the collection of Gap Inc. founders Donald and Doris Fisher. The gifts from the museum's leadership bring it more than halfway toward a $480-million goal. From funds raised so far, $100 million is earmarked to double the endowment. The rest will go toward the expansion. The project will increase the museum's current galleries to 150,000 square feet and consolidate offices scattered around the neighborhood into one building.
ENTERTAINMENT
March 26, 2013 | By Mike Boehm, Los Angeles Times
L.A.'s Museum of Contemporary Art has set a goal of building its endowment to $100 million, as it tries to outgrow the financial vulnerability that has dogged it for more than a decade. Already, the museum says, it has commitments from its board that would lift its endowment past $60 million. Word of the new pledges follows the announcement by the MOCA board last week that it would keep the museum independent and step up efforts to raise money, effectively rejecting an offer to be absorbed into the Los Angeles County Museum of Art. LACMA Director Michael Govan had presented a takeover offer at the request of some MOCA trustees that called for keeping MOCA's name and its two downtown buildings, while raising $100 million.
ENTERTAINMENT
February 14, 2014 | By Mike Boehm
Opting for arts-administration and fundraising credentials over star power, the White House announced Wednesday that President Obama will nominate Jane Chu, president and chief executive of the Kauffman Center for the Performing Arts in Kansas City, Mo., as the next chairman of the National Endowment for the Arts. Chu has led the Kauffman Center since 2006, when it was being planned. She oversaw a $414-million campaign to build the center, which opened in September 2011. Chu, who has spent most of her life in the Midwest and Texas, has had a much lower national profile than most nominees for the NEA chairmanship over the past 20 years.
ENTERTAINMENT
January 7, 2014 | By Mike Boehm
This post has been updated. Please see below for details. Leaders of L.A.'s Museum of Contemporary Art say a campaign launched less than 10 months ago to quintuple its endowment to $100 million has met its goal, prompting them to keep the campaign going with a new goal of $150 million. They see the achievement 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.
ENTERTAINMENT
January 7, 2014 | By Mike Boehm
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.
CALIFORNIA | LOCAL
October 9, 2013 | By Teresa Watanabe
California's largest healthcare foundation Wednesday announced a $50-million initiative to support minority boys and young men, saying the odds against their succeeding in school and in future careers were staggering. The California Endowment said the seven-year project would aim to boost attendance 30% in targeted schools, reduce by half the number of those suspended, train campus police on the effect of trauma on students, establish conflict-resolution programs in 10 communities, develop 1,000 youth leaders and make sure all eligible children have health coverage.
ENTERTAINMENT
September 18, 2013 | By Deborah Vankin and Mike Boehm
Eli Broad said Tuesday that he won't continue giving $3 million a year to his new museum's across-the-street neighbor, the Museum of Contemporary Art, ending his five-year run as its primary funder. But he thinks his museum, called the Broad, will be a boon to MOCA's attendance, even though general admission will be free and MOCA charges $12 for admission. "I don't have any plans to make another pledge; but you never know," Broad said Tuesday while hosting guests for a "hard-hat tour" of the construction site for his museum, which is expected to open in late 2014, across Grand Avenue from MOCA.
ENTERTAINMENT
September 17, 2013 | By Deborah Vankin
The in-progress museum known as the Broad opened its virtual “doors” Tuesday morning for a hard-hat tour of the Grand Avenue construction site - which, aside from its white honeycomb-like ceiling of skylights, looks basically like a concrete and steel construction site. The clanking of metal and screeches from buzz saws could be heard throughout the news conference, which included remarks from Eli Broad as well as remarks from Mayor Eric Garcetti, the  Broad's founding director Joanne Heyler and lead designer Elizabeth Diller, founding principal of Diller Scofidio + Renfro.
CALIFORNIA | LOCAL
August 28, 2011 | By Larry Gordon, Los Angeles Times
In what is said to be the largest fundraising goal in American academia to date, USC is launching a campaign to garner $5 billion in donations by 2018, on top of $1 billion given to the school in the last year. USC President C.L. Max Nikias said he was optimistic that the campaign, to be announced Sunday, would succeed despite the economic worries that even wealthy alumni may have about their investments. "Yes, we have to be mindful of the short-term economic uncertainties, but this campaign focuses beyond the next few months and next few years," Nikias said.
ENTERTAINMENT
October 1, 2010 | By Mike Boehm, Los Angeles Times
The Museum of Contemporary Art announced Thursday that it finished its fiscal year with a $5.5-million surplus and has used most of it to continue replenishing the endowment it had illegally raided during nearly a decade of overspending. Although dipping into its reserves helped MOCA mount acclaimed exhibitions, it left the downtown museum nearly broke at the end of 2008. A merger with the Los Angeles County Museum of Art was considered before Eli Broad stepped in with $30 million in pledges that enabled it to maintain its independence.
CALIFORNIA | LOCAL
September 14, 2013 | Times wire services
Sheldon Hackney, an educator and historian who served as president of Tulane University and the University of Pennsylvania before becoming chairman of the National Endowment for the Humanities, has died. He was 79. Hackney died Thursday at his home on Martha's Vineyard of amyotrophic lateral sclerosis, also known as Lou Gehrig's disease, officials from Penn and Tulane confirmed. He was president of Tulane from 1975 to 1980 and president of Penn from 1981 to 1993, when he was nominated by President Clinton to serve as chairman of the National Endowment for the Humanities.
CALIFORNIA | LOCAL
September 12, 2013 | By Hailey Branson-Potts
The family of Ambassador J. Christopher Stevens, who died in an attack on the U.S. diplomatic mission in Benghazi, Libya, has established a fund honoring him at UC Berkeley, the university announced Wednesday, the one-year anniversary of his death. The $100,000 gift establishes an endowment for the school's Center for Middle Eastern Studies “to support research and travel to the Middle East and North Africa for students who demonstrate a high level of distinction and are pursuing a degree in or related to Middle Eastern studies,” the university said in a statement.
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