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MOCA is in the Red, Needs More Support

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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.