Eli Broad to End His Funding of LA MoCA:
“LOS ANGELES—Eli Broad has announced he will no longer continue giving $3 million a year to LA MoCA, effectively ending his five-year relationship as the museum’s primary funder, report Deborah Vankin and Mike Boehm of the Los Angeles Times. His funding of the museum began in December 2008 with a pledge of $30 million that would be spread over five years. Broad’s new museum is set to open across the street from LA MoCA in late 2014, which critics say might be a factor in Broad’s decision not to renew. The Broad will offer free admission to its visitors unlike its neighbor. The last quarterly installment of $750,000 from Broad’s foundation to LA MoCA is due in October.”
(Via Art & Education » News.)