The Berkshire Museum has released its financial reports in an effort to prove that the art sale was needed to keep the museum open.
The museum posted its independent audit, its federal tax statement Form 990, the Massachusetts state tax statement required as a non-profit, and annual filing for charitable organizations in New York State, which is filed with registration to solicit donations from New York.
The Berkshire Museum can proceed with its planned sale of some 40 pieces of art after a Supreme Judicial Court ruling Thursday.
The ruling affirms the agreement the museum had reached with Attorney General Maura Healey in February which includes allowing the museum to sell Norman Rockwell's Shuffleton's Barbershop, provided it remains on display at the Norman Rockwell Museum for 18 months. That agreement allows the art sale to proceed but only until the museum hits $55 million.
A U.S. based museum is waiting in the wings to purchase Norman Rockwell's famed "Shuffleton's Barbershop" if an agreement between the Berkshire Museum and the Attorney General's Office is approved by the Supreme Judicial Court
The Berkshire Museum's planned art sale will go forward.
Judge John Agostini denied a request for a preliminary injunction, pausing the Sotheby's auction of some 40 pieces of artwork, starting next week and extending into March. Members of the Rockwell family, other donors, and Attorney General Maura Healey filed for the injunction to at least delay the sale. The two hoped for a restraining order of the auctions that are scheduled for next week.
Sharon Gregory has reviewed more than a decade of the Berkshire Museum's financials and says the situation isn't nearly as dire as the organization says.
And Gregory isn't just anybody, she is someone with 40 years of financial experience. She retired as the vice president of business development and planning for Iredale Mineral Cosmetics, and before that worked with a number of organizations such as Lehman Brothers and Citibank.
Nuclea Biotechnologies' intellectual property will be sold at auction in January.
Heritage Global Partners will auction the material online globally on Jan. 18. The sale includes the licensing, patents, and materials for the various diagnostic tests the company developed. The auction is part of the bankruptcy proceedings, which the company filed for earlier this year.