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MOCA is in the Red, Needs More Support
After a six-month closure of its Geffen Contemporary exhibition space, the LA Times finds that the Museum of Contemporary Art is facing serious financial problems . "MOCA must sharply accelerate its fundraising to ensure its continuing health. The director planned to meet with MOCA's Board of Trustees this afternoon to discuss a range of options. He said talks were proceeding 'with a number of potential partners about a variety of arrangements," but he insisted that a dissolution or takeover of MOCA by another institution was not an option.'" The annual budget floats around $20 million, has borrowed millions and has dipped into its savings account.