MOCA Raises $57 Million, Roars Back from Brink of Insolvency

June 26, 2009 -- In what Eli Broad called “the biggest turnaround of a cultural institution in recent history,” the Museum of Contemporary Art (MOCA) announced today it had raised $57 million,  $4.25 million of which will be added to the museum’s endowment assets to be matched by a gift from the Eli and Edythe Broad Foundation for a total of $8.5 million. This news comes just six months after the institution found itself teetering on the brink of insolvency. 

The news insures that one of the most important collections of contemporary art in the world will remain intact and and in L.A. and that MOCA will remain the preeminent contemporary art institution in the U.S.   More at www.moca.org.