An Arm and a Van Gogh: Selling Art Collections from Charitable Contributions for Capital Gain is a High Price to Pay

Institutions often turn to selling off gifts or charitable trusts that have been donated as a creative solution to increase their endowments. This article discusses donations and the impact of the donor’s intent for gifts and charitable trusts. Fiduciary obligations of trustees differ under Cy Pres Doctrine and the Doctrine of Deviation. The author proposes various methods of clarity of the intent of donors and trustees.