Gifts to the Museum of Contemporary Art in Los Angeles declined by $270,000 in 2011-12, the second consecutive drop under Director Jeffrey Deitch, reports the Los Angeles Times.
The museum, which has struggled with deficits and internal strife in recent years, collected $14.6-million in donations in the last fiscal year, accounting for 82 percent of its revenue. Last year’s drop followed a more precipitous $4.5-million decline in 2010-11, Mr. Deitch’s first year at the helm.
MOCA, as it is known, said on Friday that its 2012-13 operating budget will be $14.3-million, down from $17.5-million in 2011 and the lowest figure since 1998-99. The museum announced last week that it was received pledges that will boost its endowment, which stood at less than $20-million during Mr. Deitch’s first two years, to more than $60-million.Return to Top