Eli and Edythe Broad’s foundations have assets of some $2.4 billion. Lifelong philanthropists, one of their major areas of focus has been art, and specifically, increasing access to contemporary art. Their own two collections, obtained over four decades, include nearly 2,000 works; they have donated 8,000 more pieces to nearly 500 museums worldwide. Their home region, the Los Angeles area, has benefited most from their art philanthropy. In 2006, the couple made a $23 million gift to build an incubator for artists at the University of California, Los Angeles. In 2008, the Broads offered a $30 million challenge grant to revitalize the Museum of Contemporary Art in Los Angeles. That same year they gave $60 million to build the Broad Contemporary Art Museum. And in 2013 they are scheduled to open their definitive museum, simply called The Broad, in downtown Los Angeles. They have also funded concert halls, revitalizations of public spaces, and served on countless museum boards.
- The Broad, thebroad.org/about
- Marjorie Garber, Patronizing the Arts (Princeton University Press, 2008), p. 20