By Zachary Kester, JD, LLM CFRM, at Charitable Allies
Last night the National Art Museum of Sport and The Children’s Museum of Indianapolis announced a new permanent home for the NAMOS collection–the new Riley Children’s Health Sports Legends Experience.
NAMOS Board President and NCAA VP and CFO Kathleen McNeely graciously highlighted our work in guiding NAMOS through the legally complicated gifting and dissolution processes in her presentation. “Ms. McNeely’s deft leadership, in conjunction with the NAMOS board’s excitement in finding the NAMOS collection a new permanent home made this project a wonderful experience for all” noted Charitable Allies’ Executive Director Zac Kester.
Charitable Allies staff attorneys drafted and revised a gift agreement through which NAMOS gifted the entire collection was gifted to the Children’s Museum. The gift agreement included detailed itemizations related to the collection, among other things. Along with the gift also came some cash to help create an endowment to care for the pieces, as well as the creation of an advisory team comprised of NAMOS directors to advise museum staff as related to the NAMOS collection. Charitable Allies also assisted the NAMOS board and corporate members walk through the dissolution and wind up the process to close the NAMOS corporation so the NAMOS collection continues to live on with the Children’s Museum.
Several NAMOS board members will continue to advise The Children’s Museum as it completes the buildout of the Sports Legends Experience and places the NAMOS pieces throughout the new Efroymson Pavilion.
The NAMOS collection’s new home was reported today in the Indiana Business Journal, IndyStar and Inside Indiana Business.