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Displaying items by tag: endowments

Sunday, 26 August 2012 20:00

A Lesson in Museum Finances

We’ve all read media reports of internal problems at the Museum of Contemporary Art in Los Angeles — exhibitions canceled, staff fired, and artist trustees resigning in protest. Reporters on the West Coast are having a field day. These problems can probably be laid in part at the door of bad management. There is no doubt the current museum director, Jeffrey Deitch, and his predecessor, Jeremy Strick, made foolish decisions: Strick spent down the museum’s endowment without attending to fund-raising, and Deitch appears to be willing to degrade the program to boost attendance.

But there are other reasons why MOCA is struggling — reasons that, it seems to me, have as much to do with the nature of museum financing in this country as they do with the limitations of the individuals managing that institution.

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