"Also unclear is the status of the museum's permanent collection"

The Chelsea Art Museum is in danger of closing. The Wall Street Journal reports:

"In August, [the museum's director] said she had pledged the museum's entire collection as collateral for a ... loan to make an interest payment on the mortgage. That move appears to violate regulations of the state Department of Education's Board of Regents, which supervises and grants charters to museums. The department has been gathering information about the museum's actions for review."