Dive Brief:
- A judge in the Superior Court of the District of Columbia ruled Monday that the controversial plan to turn over the Corcoran College of Art and Design to George Washington University is the best way to solve the institution’s financial problems.
- As part of the court-approved plan, the Corcoran Gallery of Art will be split from the college and merged into the National Gallery of Art.
- Under Corcoran’s merger with George Washington, the school’s tuition will be raised after a few years, and new curriculums and a closer integration with the parent school will be phased in, the Washington Post reported.
Dive Insight:
This is a victory for the Corcoran trustees, who contended that the 145-year-old institution was in danger of closing and having its 17,000-piece art collection dispersed to the highest bidders. In 2009, the institution was in default, and it lost $26 million over the last six years. It’s a disappointing defeat for the opponents of the plan, represented by the Save the Corcoran advocacy group, who argued that the trustees were exaggerating the financial issues and should take a more aggressive approach to raising funds and creating a vision for the institution. An attorney for the group said it was grateful that it had been given the opportunity to make its case in “a full and fair trial.”