The Detroit Institute of Arts, the Founders Society, and the City

Jeffrey Abt
Additional contact information
Jeffrey Abt: Wayne State University

Chapter Chapter 2 in Valuing Detroit’s Art Museum, 2017, pp 45-81 from Palgrave Macmillan

Abstract: Abstract Just as the DMA trustees were preparing to dissolve their nonprofit corporation, a seemingly minor problem surfaced. It had about $27,000 in acquisition endowments and cash. Because the endowments were structured as trusts administered by the museum’s board, it was unclear whether or not, from a legal or fiscal standpoint, the city could oversee the endowments and utilize their investment income. The trustees tabled the question—and the dissolution of their nonprofit—until early 1920 when Ferry, who had returned from the war and was elected the trustees’ new president, could consider it. He proposed the DMA nonprofit corporation be continued, not only to administer the existing endowments, but to solicit and administer future donations, cultivate public interest in art, coordinate with the DIA, and purchase art for it with income from memberships and contributions. Ferry’s proposal was unanimously approved.1

Keywords: City Council; Metropolitan Museum; Budget Proposal; Founder Society; Special Exhibition (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:psichp:978-3-319-45219-7_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319452197

DOI: 10.1007/978-3-319-45219-7_2

Access Statistics for this chapter

More chapters in Palgrave Studies in American Economic History from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().