UArts $77M Endowment Still Tied Up in Court Two Years After Closure

Two years after the University of the Arts (UArts) in Philadelphia abruptly closed in June 2024, its $77 million endowment remains mired in court proceedings. Multiple parties are competing for the funds, including colleges that accepted displaced UArts students and a charitable trust that contributed more than half of the endowment. The legal battle highlights the complexities of distributing assets when an institution shuts down unexpectedly. The case continues in Philadelphia courts with no resolution in sight.