Eli Broad's Foundation Makes Back Payment to L.A. Museum - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Billionaire arts patron Eli Broad’s charity is out of arrears with the Los Angeles Museum of Contemporary Art after paying $1.5-million on its five-year pledge to support exhibitions, writes the Los Angeles Times.
The Broad Foundation had withheld $750,000 payments due in October 2011 and January 2012 because the museum, known as MOCA, had not yet spent $2.1-million in previous grants.
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