Valparaiso University is facing financial difficulties including declining enrollment and a $9 million annual deficit. To stabilize its finances, the university has decided to sell three valuable works from the Brauer Museum of Art collection, including works by Georgia O’Keeffe and Childe Hassam, estimated to be worth $10-15 million. This decision has led to opposition from various groups, including museum associations and individuals associated with the museum.
The university has petitioned the Porter County Superior Court to allow the sale of the artworks, claiming that they do not align with the original intentions of the donor, Percy H. Sloan. Additionally, the university argues that the paintings are not conservative, as specified in the trust, and have become too valuable to display safely. The funds generated from the sale will be used to improve freshman dormitories with modern amenities to attract prospective students.
In addition to selling the artworks, the university has announced plans to discontinue several academic programs, lay off staff, and restructure the museum. The decision to sell the paintings has sparked controversy and criticism, with some faculty members expressing concern about the impact on the humanities and academic programs. The restructuring plan was developed by a consultancy firm and aims to address the university’s financial challenges in the face of declining enrollment and rising costs.
Overall, the university’s decision to sell the artworks is part of a larger effort to address its financial issues and attract new students. The controversy surrounding the sale reflects broader challenges faced by institutions of higher education in the United States.
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