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FOR IMMEDIATE RELEASE
MOCA TRUSTEES NEARLY TRIPLE ENDOWMENT TO $60 MILLION, BOARD PRESIDENT JEFFREY SOROS AND TRUSTEE EUGENIO LOPEZ TO LEAD CAMPAIGN FOR INDEPENDENCE
LOS ANGELES—The Museum of Contemporary Art, Los Angeles announced today that the Board of Trustees have obtained commitments over the past two weeks that will boost the endowment to more than $60 million, a record high in the museum's 34-year history and a reflection of the board's commitment to keep MOCA as a museum dedicated solely to contemporary art.
The recent board commitments are part of MOCA Independence, a fundraising campaign to raise funds and bring the endowment to $100 million launched to help ensure the museum's ongoing independence, which will be chaired by Board President Jeffrey Soros and Trustee Eugenio Lopez.
"The financial support we have already raised demonstrates the commitment of the board to ensuring that MOCA remains a world-class independent contemporary art museum, and we call on others to join in this campaign," said Soros. "We firmly believe that the best future for the museum is one that continues our history of making our preeminent collection available to the public and of presenting innovative, scholarly programming."
"In my time on the board, I have seen and experienced an exemplary exhibition program, record attendance, the continued expansion of MOCA's outstanding collection, and a deep respect and appreciation for MOCA around the world," said Lopez. “I am convinced that MOCA can best serve its mission and our community in Los Angeles and far beyond by continuing to operate solely as a contemporary art museum. With a healthy cash reserve and no debt, boosting our endowment gives us the financial security to fulfill our mission."
MOCA Board Co-Chairs Maria Arena Bell and David G. Johnson thanked Soros and Lopez for leading the new capital campaign.
Soros joined MOCA's board in July 2003, serving on its Acquisition and Collection Committee, and has served as President of the board since June 2008. He is also an avid supporter of arts education and served as chair of MOCA's Education Committee from September 2006 through June 2008 and as board vice chair from September 2005 through September 2006. Soros and his wife, Catharine, have been supporters of MOCA since 1997.
Lopez joined the MOCA board in April 2005 and has been a generous supporter of the museum's exhibition program, making major contributions to exhibitions, donating numerous important works to the MOCA collection and supporting the museum's major fundraising initiatives. In 2001 Lopez founded the Fundación/Colección Jumex, which works to generate innovative research and curatorial proposals to stimulate reflection about contemporary art worldwide and encourage the creation of new institutional models for the support of arts and culture.
The museum's trustees and life trustees include six officers and 43 members, all of whom are active arts patrons and philanthropic leaders. Active board development has resulted in the election of 25 returning and new trustees since 2008. Thirteen new trustees, including Wallis Annenberg, Steven A. Cohen, Charles. L. Conlan II, Laurent Degryse, Ariel Emanuel, NancyJane Goldston, Richard J. Grad, Laurence Graff, Dan S. Loeb, Maurice Marciano, Edward Minskoff, Sutton Stracke and Jamie Tisch have been elected during Director Jeffrey Deitch's leadership.
The museum's annual attendance has risen to a record high of 400,000 in recent years. In 2012, MOCA also acquired 117 artworks, boosting its renowned collection to more than 6,700 works.
THE MUSEUM OF CONTEMPORARY ART, LOS ANGELES (MOCA)
MOCA MEDIA CONTACTS
NANCY LEE, MOCA PUBLIC RELATIONS COORDINATOR