March 13, 2014 |
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....
February 14, 2014 |
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.
January 7, 2014 |
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.
January 7, 2014 |
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.
CALIFORNIA | LOCAL
October 9, 2013 |
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.
September 18, 2013 |
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.