Delaware Art Museum

Local News
7:46 am
Thu September 25, 2014

Delaware Art Museum Pays Off Debt

Isabella and the Pot
Credit delaware art museum

WILMINGTON, Del. (AP) - The Delaware Art Museum says its $19.8 million bond debt is set to be paid off.

The board of trustees said Wednesday that the debt, issued in 2003 to pay for the museum's expansion, will be paid on Tuesday.

The trustees voted in March to sell up to four works of art to pay the debt. The News Journal of Wilmington reports that the sale of two works, plus funds from the museum's investment portfolio, helped make the debt payoff possible.

The museum has one of the most significant pre-Raphaelite collections outside of the United Kingdom.

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Local News
10:05 am
Fri June 20, 2014

Delaware Art Museum Loses National Accreditation

Isabella and the Pot of Basil
Credit Delaware Art Museum

WILMINGTON, Del. (AP) - The Delaware Art Museum in Wilmington has lost its national accreditation and may not be able to borrow artwork from other museums after it began selling paintings to pay debts.

The American Alliance of Museums said Wednesday that collections cannot be treated as disposable assets.

The alliance says its accrediting commission voted unanimously to revoke the museum's accreditation. The group says the museum's actions violate museum standards and ethics.

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