Fisk University Barred from Selling Art Collection

Fisk University, in a desperate financial situation, wanted to sell a half share in a collection of modern art that was donated to the school by Georgia O’Keeffe. Judge Ellen Hobbs Lyle denied approval for the sale, noting that O’Keeffe’s intention was for the art to be displayed in Nashville, not for the general support of Fisk University.

Judge Lyle wanted to abide by cy pres, the legal doctrine under which courts make sure donations are managed in accordance with donor intent. Although selling the art may be for the greater good, it is more important to honor a donor’s intent. The theory is that future donations are encouraged because donors see that the law will honor their intent.

The next step for the school is to submit a new plan that satisfies legal requirements while still helping the university.

See Scott Jaschik, Judge Blocks Sale of Art by Fisk, Inside Higher Ed, Aug. 23, 2010.

Special thanks to Alfred Brophy (Professor of Law, UNC School of Law) for bringing this to my attention.