Professional Documents
Culture Documents
FOR IMMEDIATE RELEASE CONTACT: Sharon CurtisFlair
Oct. 22, 2010 (615) 7415860
Statement from the Office of Attorney General Bob Cooper Regarding Filings in Davidson
County Chancery Court Regarding Fisk University Art Sale:
Attorney General Bob Cooper today filed two briefs in Chancery Court regarding Fisk University’s
proposed sale of part of the Stieglitz Art Collection. One brief responds to the filing of Fisk
University on Oct. 8, 2010, proposing modifications to a proposed sale of half of the Alfred Stieglitz
Collection to a private museum in Bentonville, Ark. The other brief describes alternatives to the sale
and brings to the court’s attention a new development that would provide funding for keeping the
Collection on the Fisk campus.
The briefs make the following points:
•Voiding the no‐sale restriction placed by Georgia O’Keeffe on the Collection when it was donated
to Fisk and allowing sale of a half interest in the Collection is a clear breach of the donor’s intent
and is contrary to applicable law.
•Fisk has never been able to prove that the sale will solve the University’s financial problems.
President O’Leary testified that Fisk needs approximately $150 million to solve its problems and
that the $30 million would serve, at best, as a springboard for future fundraising. Fisk provided no
proof that it has ever been able to mount a professional fundraising effort to accomplish such an
ambitious goal.
•The modified agreement proposed by Fisk, ultimately, will result in the loss of the entire Collection
by Fisk and Nashville. Once the protections provided by Ms. O’Keeffe’s no‐sale restriction are lifted
for a half interest in the Collection, the entire Collection becomes fair game for Fisk’s creditors. The
Arkansas museum itself will likely be one of the creditors and will be able to claim the rest of the
collection likely at a substantial discount.
•To avoid this eventuality, the Attorney General made the Court aware of a new development that
would pay the annual costs of displaying and maintaining the Collection on Fisk’s campus, relieving
Fisk of this burden and keeping in place the no‐sale restriction. Fisk alumna Carol Creswell‐Betsch
has established a designated fund within the Community Foundation of Middle Tennessee. The fund
is named in honor of her mother, Pearl Creswell, who was the first curator of the Stieglitz Collection
at Fisk. With the assistance of a $131,000 annual grant from this Fund, Fisk could continue to
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display the Collection on campus in the Van Vechten Gallery at no cost to the University, and it
would be protected by law from creditors by the no‐sale restriction which Ms. O’Keeffe insisted
upon when she donated the collection to Fisk.
•The Alternative described in the Attorney General’s filings‐‐the Pearl Creswell Fund for the Alfred
Stieglitz Collection at Fisk, as well as the proposal submitted by the Attorney General on Sept. 8,
which has been expanded to include the Tennessee State Museum as a potential site to display the
Collection‐‐are closer to the donor’s intent than Fisk’s proposed sale. Fisk’s plan lifts the no‐sale
restriction, places the art at the disposal of creditors, and takes the art out of Nashville two of every
four years, subjecting the fragile works in the collection to repeated transport over 550 miles.
Background: A trial was held in this case before Davidson County Chancellor Ellen Hobbs Lyle,
which ended Aug. 11, 2010. This filing by the Attorney General is at the direction of the Court
responding to the filing of Fisk University on Oct. 8, 2010. It provides additional information to the
Court regarding alternatives that the Court should consider in place of permitting sale of a half
interest in the Stieglitz Collection to a museum in Bentonville, Ark. The Attorney General has the
responsibility to represent the interests of the citizens of Tennessee in the disposition of charitable
gifts. Under the law, changes in restrictions on gifts should be made sparingly and should closely
approximate the intent of the donor so that future donors will not have to worry about their wishes
being swept aside. Otherwise, future donations would be discouraged.