The operating agreement required Fisk to set aside $3.9 million of the $30 million sale proceeds to be used to establish a fund for the care and maintenance of the collection at the Carl Van Vechten Gallery at Fisk.
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In 2006, Fisk University agreed to sell a 50% stake in a 101 piece Stieglitz collection to Crystal Bridges for $30 million.
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A few months later on 2 August, The Davidson County Chancery Court approval a Final Agreed Order that establish joint ownership between Fisk and Crystal Bridges through the newly established Stieglitz Art Collection, LLC.
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In October 2010, a judge ruled that a 50% stake in the collection could be sold to Crystal Bridges if modifications to the contract were made so that Fisk University could not lose its interest in the collection, nor could the joint venture holding ownership of the collection between Fisk University and Crystal Bridges be based in Delaware (or outside Tennessee Courts).
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Alice Walton, the daughter of Walmart founder Sam Walton, spearheaded the Walton Family Foundation's involvement in developing Crystal Bridges.
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Crystal Bridges has announced a four-year collaboration with the musée du Louvre in Paris, High Museum of Art in Atlanta, and the Terra Foundation for American Art.
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