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Article: Barnes Foundation appraisal is short of mark; stay in Merion, Pa., in question.
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- August 4, 2004
CopyrightCOPYRIGHT 2004 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Wendy Tanaka
Aug. 4--An appraisal has placed the value of the Barnes Foundation's "non-gallery assets" of artwork and real estate below the $50 million that may be needed to keep the struggling institution viable in Lower Merion, executive director Kimberly Camp suggested yesterday.
"I never thought that we would ever get near a figure like that," Camp said of the appraisal Montgomery County Orphans' Court Judge Stanley Ott ordered the Barnes to make.
The value of those assets became pivotal last winter after Ott suggested that the Barnes may be able to stay in Merion if it can raise a $50 million endowment by selling some real estate ...