No arts nonprofit is apt to show a rosy balance sheet for the year of the great economic meltdown, unless by rosy one means red ink.
LACMA In the case of the Los Angeles County Museum of Art, which recently posted on its website the audited financial statement for the 2008-09 fiscal year ending June 30, the bad news includes a 23% decline in the value of its cash and investment portfolio, from $254.7 million to $196 million.
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