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December 17, 2008 | 1:05 pm
Some MOCA board members are wary of Eli Broad
Posted by Dean Rotbart
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Los Angeles County Museum of Art
The New York Times is reporting today that some at Los Angeles’ Museum of Contemporary Art “have grown wary” of philanthropist Eli Broad and his possibly less-than-generous effort to provide financial support to ailing MOCA.
In an Op-Ed article published last month in the Los Angeles Times, Broad, who along with his wife Edythe are the subject of my Monday ‘The Memo’ this week, promised to donate an additional $30 million to MOCA, if others would also pledge big bucks.
NYT reporter Edward Wyatt notes that the Broad’s offer is for $15 million in fresh funds for MOCA’s dwindling endowment and another $15 million to help cover operations and exhibits over the next five years.
Yet Wyatt reports that some wary MOCA board members say Broad’s terms “put him in the position to control the museum or its collections if the museum is not able to complete its fund-raising efforts.”
Kind of like a stealth hostile takeover.
The Times reported that The Broad Art Foundation issued a statement saying it will back any solution to MOCA’s fiscal crisis if the plan achieves five goals: “maintains MOCA’s independence, keeps MOCA headquartered on Grand Avenue, continues MOCA’s world-class exhibition program, preserves its collection for view by the broadest public, and provides financial assurances that would provide the institution with long-term financial health.”
Such a five-part solution is easy to envision. It is spelled B-R-O-A-D.
One item in the Times article that Eli and Edythe are not likely to reprint in their press clippings is Wyatt’s assertion that MOCA’s collection “is widely considered to be of greater depth and quality than Mr. Broad’s.”
No wonder Eli is willing to fork over $30 million to have a shot at controlling the entire MOCA collection, too.
What a charitable guy!
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OK, so you hate the Broads, but get a grip. Can’t you read?
You write of the New York Times story: “Wyatt reports that some wary MOCA board members say Broad’s terms “put him in the position to control the museum or its collections if the museum is not able to complete its fund-raising efforts.”” Um, did Mr. Wyatt say exactly HOW Broad’s terms “put him in the position to control the museum” if MOCA fails in fund-raising?
No. Why not? Because Mr. Wyatt is reporting GOSSIP.
I seem to recall reading in the New York Times that there were WMDs in Iraq…
Well if the guy’s shelling out millions then of course he should be able to control the museum. Why should the guys sitting around in the board room failing at raising similar funds stay in charge? Money is power in case the above poster doesn’t know.
I think Eli Broad should only donate matching funds so he’s not pumping money into a waste that’s not going anywhere, relying only on his money.
Poster “Reality” is even dumber than Rothbart. Broad already said the money is a challenge, which requires others to provide funds. Duh, he’s not doing it on his own. And there’s a big difference between autonomous power and general influence, which a museum board entails. Grow up.
Well (in)Saner, if they don’t want him to control the museum, all they have to do is not accept his $30 million - that simple. They can’t take his cake and eat it all up too.
The Times reported that The Broad Art Foundation issued a statement saying it will back any solution to MOCA’s fiscal crisis if the plan achieves five goals: “maintains MOCA’s independence, keeps MOCA headquartered on Grand Avenue, continues MOCA’s world-class exhibition program, preserves its collection for view by the broadest public, and provides financial assurances that would provide the institution with long-term financial health.”
Great article. Philippines has a lot of historical art and memorabilia to show too. just like the Ninoy memorabilia that just had an exhibit last August.