MOCA Los Angeles Marks 30 Years with Major Collection Exhibition After Financial Crisis

The Museum of Contemporary Art (MOCA) in Los Angeles is marking its 30th anniversary with an exhibition titled 'Collection: MOCA's First Thirty Years,' showcasing 500 pieces from 200 artists, available until May 3, 2010. This celebration comes after a financial turmoil that nearly led to bankruptcy, with $45 million in liabilities. Philanthropist Eli Broad intervened by acquiring two-thirds of this debt for $30 million, under the condition of increased contributions from the board and budget reductions. Consequently, MOCA's budget was slashed from $21 million to below $16 million. Chief curator Paul Schimmel reflected on the museum's evolution and the crisis's effects on cultural institutions. Future exhibitions will feature Arshile Gorky (June 6–September 20, 2010) and William Leavitt (November 21, 2010–March 14, 2011).