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.
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 judge has suspended Detroit’s bankruptcy trial until Monday to give the city more time to work out details of a settlement with a major creditor.
The joint filing by the city and bond insurer Syncora Guarantee said that they “have reached an agreement in principle” to settle the company’s $400 million claim in the nation’s largest-ever municipal bankruptcy case.