The MOCA in Los Angeles is in some serious financial trouble according to a report in the LA Times.

By one important measure — “unrestricted assets,” money that can be used for any purpose — MOCA is in dire straits. Its federal tax returns show that early in this decade the museum had spent all $20 million of its unrestricted funds to meet routine operating costs. By mid-2007, it had borrowed an additional $7.5 million from “restricted” accounts, even though those are designated by donors for specific uses, such as education or buying art.