The Los Angeles Museum of Contemporary Art has announced that its endowment has risen to $75 million, thanks to fundraising by its board. The new amount is more than triple its mid-March endowment of $22 million. “We have an extraordinary commitment from the board to ensure that LA MoCA remains an independent institution with a vibrant future and ongoing track record of cutting-edge programming,” said board president Jeffrey Soros, who is cochairing MOCA Independence, a campaign to raise the endowment to an initial $100 million. “These generous gifts are evidence of the trustees' belief that Los Angeles needs an independent contemporary art museum.”