Fisk University in Nashville wants to sell a 50 percent share of an art collection donated to Fisk by Georgia O’ Keefe in order to keep the school afloat, according to an article in Business Week.
According to the article, the contemplated sale would be for $30 million to the Crystal Bridges Museum in Bentonville, Ark. The school and the museum – founded by Wal-Mart heiress Alice Walton – would each house the collection and pay for its maintenance.
The school apparently hopes the infusion of cash will lead to more donations, and that Fisk could raise $150 million for its endowment.
The state says O’Keefe donated the prized collection for the benefit of Fisk students and local citizens, not to leverage money.