When Eli Broad announced recently that he wanted to help bail out the financially woebegone Museum of Contemporary Art by making a $30-million “investment” in its rescue, his choice of words made some wonder what he might want in return.
After all, when anyone makes an investment, they’re hoping for a tangible payoff. But billionaire philanthropists are not like the rest of us.
Clarifying his aims, Broad said all he wants for his $30 mil — if MOCA’s board chooses to accept it — is “keeping MOCA a vibrant, independent museum for the city … with a vibrant exhibition program on Grand Avenue. The fear I have is a New York Times story that says, ‘L.A. Museum Fails’ or ‘Closes.’
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