Artists are proving, once again, to be the bedrock of LAMoCA as they donate works (for which they can only deduct the cost of materials) to an auction to benefit the museum’s endowment:

During its New York contemporary art sales in May, Sotheby’s will auction approximately 35 works whose proceeds will benefit the Museum of Contemporary Art, Los Angeles (MOCA). The art, which was donated by artists such as Jeff Koons and Mark Grotjahn, among others, is predicted to bring in more than $10 million; the money will be used to build MOCA’s endowment, which currently stands at $100 million.

Sotheby’s Will Auction Artworks to Benefit MOCA’s Endowment  (Architectural Digest)