Katya Kazakina adds another wrinkle to the continuing soap opera that is LA MoCA. Shortly after the museum relented on its vow not to hire a curator to replace Paul Schimmel, Kazakina tries to suggest growing tension between the museum’s main benefactor and a raft of trustees brought in to support the institution from around the world.
According to Bloomberg, Broad has not paid two of the regular installments of his exhibitions grant because there’s still money in the exhibition fund that has not been spent. Broad’s representative affirms the payments will resume when the fund is depleted.
Meanwhile, the strategy of bringing in new trustees who commit to paying $75,000 each year hasn’t solved the museum’s funding problems:
contributions and grants to the museum fell 21.5 percent to $14.6 million in the fiscal year that ended June 30, 2011, the most recent full year for which data are available. The museum’s operating profits have declined and matching funds have gone unmatched while expenses rose 10.7 percent to $17.5 million in the period. […]
“There’s a resistance,” said Frederick M. Nicholas, a former chairman of the board and one of the four trustees who wrote to the L.A. Times. “People feel that Eli has taken control over the museum, over the exhibitions. Some of the people who have pledged money aren’t giving it because they are concerned about the future of the museum and how it’s being directed.”
Eli Broad Misses MOCA Payment In Museum’s Murky Finances (Bloomberg)
