Effects of The Late-2000s Financial Crisis On Museums - Bailout of MOCA

Bailout of MOCA

For more details on this topic, see Museum of Contemporary Art, Los Angeles#Financial troubles.

In December 2008 the Museum of Contemporary Art, Los Angeles reported that it had lost over $44 million of its $50 million endowment over nine years. The museum considered merging with the Los Angeles County Museum of Art but was approached by the billionaire Eli Broad, whose 30 million dollar bailout offer was accepted on December 23. Museum director Jeremy Strick also announced that he would resign.