terra non firma: lacma's big endowment

Tuesday, March 15, 2005

lacma's big endowment

and I'm not talking about the size of its delacroix, if you know what I mean. and I think you do. lacma announced yesterday it raised $156 million, with $130 million of it earmarked for phase 1 construction of the new renzo piano expansion. where did that money come from? from the press release:

Nearly 75% of the museum's 54 trustees have contributed to the ongoing fund-raising campaign, which includes a $50 million gift from trustee and philanthropist Eli Broad; a $25 million gift from an anonymous benefactor; and a $10 million challenge grant from Los Angeles County.