$3 million more donated to MOCA
The Museum of Contemporary Art says one of its trustees, real estate and investment executive Fred Sands, has given the museum $2 million, with an anonymous donor providing an additional $1 million. The donations are on top of $1 million and $5 million gifts from unnamed donors that the museum had made public last month, and bring the total raised since Jan. 30 to $10 million, spokeswoman Lyn Winter said.
Sands, a board member since 2002, was involved in establishing MOCA 30 years ago.
“I fought for its founding and I will fight for its future today," he said in a statement released by the museum. "I believe there is great potential to continue MOCA's legacy of outstanding programming for many years to come, and I am delighted to be able to support the museum at this defining moment."
The gifts from Sands and the anonymous donor are for regular operations rather than endowment, Winter said, which means they won't be matched by Eli Broad, the museum's leading patron. The Broad Foundation has pledged $15 million in matching funds to help replenish the $38 million endowment that nearly was depleted from 2001 to the end of 2008, leading to the financial crises that rocked MOCA last November and December
-- Mike Boehm
Photo: Fred Sands. Credit:Genaro Molina/Los Angeles Times