CHRONICLE OF PHILANTHROPY
WASHINGTON, DC---The agreement to
effectively dissolve Washington, D.C.’s
Corcoran Gallery of Art points up an “emerging crisis in nonprofit governance” that is increasingly engulfing significant cultural institutions, a
Wall Street Journal editor writes. After years of financial turmoil, Washington’s oldest private museum announced plans this week to
turn over its $2-billion collection to the National Gallery of Art and its building and art college to George Washington University. Journal arts-and-leisure editor
Eric Gibson lambastes the Corcoran’s board for “a string of policy lurches” he says left the museum floundering, culminating in trustees “washing their hands of their own institution.” [
link]
