In the Matter of the Application of Coe College for Interpretation of Purported Gift Restrictions
v.
Coe College
Coe College (Coe), a private, nonprofit college was gifted by the Eppley Foundation a collection of seven paintings created by Grant Wood to hang on the walls of its library. Coe appeals the district court’s ruling on its application for declaratory judgment. The district court determined Eppley Foundation’s intent expressed in its February 16, 1976 gift letter transferring the paintings to Coe is to place a permanent restriction on alienation of the paintings. Accordingly, Coe is restricted from selling, transferring, or otherwise alienating the paintings. The district court declined to apply the Uniform Prudent Management of Institutional Funds Act (UPMIFA), which is codified in Iowa Code chapter 540A, or the doctrine of cy pres, under Iowa Code section 633A.5102. Coe argues the gift letter does not create a restriction on the paintings, and if it did, then the doctrine of cy pres or the provisions of the UPMIFA should be applied to remove the restrictions.
Appellee
In the Matter of the Application of Coe College for Interpretation of Purported Gift Restrictions
Appellant
Coe College
Attorney for the Appellee
Chantelle Smith
Attorneys for the Appellant
Teresa K. Baumann
Gary J. Streit
Megan R. Merritt
Supreme Court
Oral Argument Schedule
15-15-5
Oct 11, 2019 10:30 AM University of Iowa, College of Law, Levitt Auditorium
