In November, I took the J. Paul Getty Trust to task for the shockingly skimpy one-page financial summary in its belated 2005 annual report.
The 2006 report, which it had promised “at the beginning of 2007,” has now been published, and the good news is that it provides detailed statements of financial position, financial activity and cash flow (pages 100-103).
The bad news is that the Getty ran huge operating deficits in the past two years: $47.85 million in 2005; $18.29 million in 2006.
The good news is that with an endowment of $5.6 billion, rising to a level it hasn’t seen since 2000, the deficit probably doesn’t make much of a dent.
Now I’m off once again to the Seattle Art Museum, where I will hear John Walsh, former director of the Getty Museum, speak to the press and artworld VIPs, who have arrived in town to see the new museum and schmooze at a gala tomorrow night.
Should I ask him what he thinks about current finances and past finagling?