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November 19, 2010

Modern-Art Museum Leads Nonprofits in Billionaire Board Members

Twelve billionaires sit on the board of New York’s Museum of Modern Art, the most of any nonprofit institution examined in a survey by Forbes magazine.

The Partnership for New York City, a nonprofit investment fund, came in second with nine billionaires, and New York’s Mount Sinai Medical Center came third, with eight.

Four billionaires sit on three of the 10 boards the magazine examined: the financier Henry Kravis, the money manager Leon Black, the energy magnate David Koch, and the oil heir David Rockefeller Sr.

Maggie Neilson, an adviser at Global Philanthropy Group's Los Angeles office, said organizations seek super-rich board members not just for their money but also for their connections with other potential donors and with professionals who can provide institutions with marketing, legal, and technology services.