Latest on the Rose Museum

Most of you have heard about Brandeis University's plan to close the Rose and sell the collection of works, which by some accounts are worth $375 million.  Early reports this week said that the sale would be used to cover the $10 million shortfall in the school's budget for this year.

I thought this sounded extreme when I heard it, and a bit unrealistic.  Why sell such a large asset to address a comparatively small deficit.  It's a little akin to killing flies with a elephant gun.  Plenty of individuals close to the story expressed the same reaction.  

Unsurprisingly, we are hearing now that the deficit Brandeis faces is much larger.  In an interview provided with The Daily Beast, the COO reports the shortfall is more like $79 million over the next six years.  In addition, their capital campaign is still underway and they face issues in this effort as well.   A primary funding source, Carl Shapiro and his foundation, are still reeling from the Madoff scandal.  The Shapiro Foundation has already announced to Boston area non-profits it will not be providing any more support in 2009 beyond the pledges it has already made.  So it's unlikely there are white knights ready to ride in with assistance.

There have been initial cries of outrage from students, alumni and The Association of College and University Museums and Galleries.  And I agree.  It sets a dangerous precedent.  One that could have long-term implications on donors' willingness to give gifts to any but a select few institutions perceived as "financially stable".

I don't think that will stop the sale.  

We are sure to see some protracted court battles over whether Brandeis can legally sell these works.  But if the budget shortfall extends out that many years, then school officials were never really considering this a solution for their problems in 2009.  They probably expected from the beginning to sell the collection off over a half decade or more. 

I can't speak to whether they are correct in their assessment of the school's financing, but it appears they saw this as the least painful way to keep the rest of the university operating in a relatively normal fashion.  If and when it does happen, I hope they'll be able to look back and say the results for Brandeis will be worth the damage done to other university art museums.