Tight Economy Puts Squeeze on Arts Groups

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When it comes to his future arts giving in today’s economy, even Eli Broad, perhaps Los Angeles’ most generous arts supporter, is looking at the bottom line.

“The value of the Broad Foundation is down 18 percent,” says Broad, who can count among his latest contributions $56 million for the Los Angeles County Museum of Art’s Broad Contemporary Art Museum, $10 million to the new Broad Stage at Santa Monica College and $6 million for Los Angeles Opera’s coming production of Wagner’s epic “Ring” cycle.

Arts organizations throughout Southern California are scrambling in the face of declining ticket sales and donor contributions. This week brought news of layoffs and concert cancellations by the Pasadena Symphony and of the possible collapse of Opera Pacific, Orange County’s only professional opera company.


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