Saturday, December 10, 2011

Appeals Court Approves Fisk University's Sale of O'Keeffe Collection

The Wall Street Journal reports that a state appeals court has affirmed a lower state court's decision to permit the partial sale by Fisk University of the art colleciton donated to it by Georgia O'Keefe and also concluded that the lower court lacked authority to require Fisk to set aside two-thirds of the sales proceeds, or $20 million, as an endowment to maintain the collection.

Via The Nonprofit Blog.