Delaware Museum Expects “Shunning” as it Prepares to Sell Art - NPQ - Nonprofit Quarterly

Delaware Museum Expects “Shunning” as it Prepares to Sell Art - NPQ - Nonprofit Quarterly: The Delaware Art Museum is in $19.8 million of debt acquired during an expansion and renovation nine years ago, and now it has announced plans to try to raise $30 million by selling up to four works from its collection. Its complete collection comprises 12,500 pieces. What is left over after the debt is paid will be used to replenish the endowment.

The museum’s CEO explained, “After detailed analysis, heavy scrutiny and the exhaustion of every reasonable alternative to relieve our bond debt, the trustees had two agonizing choices in front of them—to either sell works of art, or to close our doors.”