Detroit Institute of Arts
The director of the Detroit Institute of Arts, who worked to protect the museum’s collection during the city’s bankruptcy, plans to retire this year.
The Detroit Institute of Art has reached its goal of raising $100 million over 20 years to help fund the city’s bankruptcy restructuring plan.
Directors of the DIA have repaid the museum $90,000 as reimbursement for bonuses awarded to top executives in 2013.
Most of donation will be used for the DIA’s $100 million commitment to the so-called grand bargain. The rest will go toward reinstalling the museum’s Japanese collection in a new gallery.
A key component of what’s known as the Grand Bargain is a deal to help protect pensioners as Detroit goes through bankruptcy. That deal depends on the Detroit Institute of Art reaching its $100,000,000 fundraising goal.
The Detroit Institute of Arts could be changing the way it doles out bonuses to its top executives.
As the Detroit Institute of Arts continues to rely on a regional property tax to support its budget, the museum says six-figure salaries paid to its top executives are justified.
Representative Eileen Kowall is hoping the Detroit Institute of Arts will reconsider major raises given to its director and CEO.
DIA Officers Got Pay Boost, Including $514K Director’s Salary, $50K Bonuses, As Counties Considered Tax Millage
Detroit Institute of Arts tax documents show compensation for its two top officers increased by more than 10 percent in 2012, including $50,000 bonuses for each.
“A one-time sale is detrimental to the long-term benefit of the city,” Kevyn Orr said. “Selling any art would cause a maelstrom.”