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Detroit Free Press
Foundations pledge $330 million to prevent sale of Detroit museum art
Foundations pledge $330 million to prevent sale of Detroit museum art

In an attempt to save the Detroit Institute of Arts from being crippled or destroyed by its city's epic bankruptcy, nine local and national charitable foundations have pledged $330 million to spare the museum from having artworks sold to help prop up municipal pensions that are in danger of being cut. The Detroit Free Press reported that the effort began in early November, guided by the chief U.S. District Court judge for Eastern Michigan, who’s trying to mediate fiscal issues. A different judge who’s presiding over the bankruptcy case would have to approve the details of any plan to discharge the city’s debts. Kevyn Orr, the emergency manager appointed by Michigan’s governor to...

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