Judge Says College Can Keep Its O'Keeffes

(CBS/AP)  A judge has ruled that Fisk University broke the terms of a donation from painter Georgia O'Keeffe, but shouldn't lose its art collection to a New Mexico museum. The terms of the gift mandated that the artworks not be sold and that they be put on public display.

Nashville Chancellor Ellen Hobbs Lyle placed a permanent ban on Fisk selling the 101-piece collection and set a deadline for when the historically black university must retrieve the artwork from storage and put it on display.

Lyle had rejected several previous attempts by the cash-strapped school to sell artworks, including O'Keeffe's signature 1927 oil painting "Radiator Building - Night, New York", worth as much as $20 Million.

CBS News correspondent Randall Pinkston reported last month that Fisk is in financial distress and must show economic viability when its accreditation is reviewed this summer; otherwise, the school may be forced to close.

"I think we could survive if we had a long time to build our endowment and build our resources but we don't have a lot of time," Fisk University president Hazel O'Leary told Pinkston. "We need the money coming from the sale of 50 percent of the Stiglietz Collection, in order to ensure our stability for the next two or three years."

The Georgia O'Keeffe Museum in New Mexico had sued to gain the rights over the collection because of the schools' attempts to sell paintings and because they weren't on display. The Santa Fe museum is the legal representative of the artist's estate.

"The museum is not interested in if Fisk survives or doesn't survive," said Jeff Selingo, the editor of the Chronicle of Higher Education. "Their interest really lies in protecting the integrity of this art collection."

Despite Fisk's financial woes the school's academic reputation remains high - a tradition President O'Leary hopes will continue.

"Our graduates, our students and our spirit as a university is our legacy," she told Pinkston.

But now that the courts have ruled that selling one of the school's most valuable assets is not an option, the future of that legacy hangs in the balance.

[andyli1004]

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[ceruleant]

I do like the idea of a traveling exhibit also, or maybe Fisk could work something out with the Frist Center for Visual Arts in Nashville where a room somewhere in the building could be the Fisk room and the paintings could be on permanent display there. I''d go see them!

[rhgroove]

This is so sad!

[godseyesore-2009]

What happens to the collection if Fisk goes belly-up?

[peacedreamer-2009]

It''s tragic that at a time when the university most needs money, it has to now find funding to build a display of 101 large works of art. In these difficult economic times, that will likely be impossible and Fisk will have to close, like Antioch did last year. Should we just accept the closure of our great universities, or can something be worked out with the museum to take possession of these artworks, AND provide some much needed funding for education?

[scottiemac52]

With a 101 piece collection they should be able to convert a small building on campus into a museum and charge admission. That way they are on display as required but the college could make some money from them. I wonder if there is any provision in the original will indicating what happens to the collection if the university as such no longer exists?

[sgt2dog]

The school accepted the paintings with these conditions. They have to live with it or even die with it.

Maybe the court would allow them to make a deal with the museum in Santa Fe?