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LC Memo Is Critical of Gershwin TrustThe Library of Congress inspector general claims that the head of the Gershwin trust “may not have complied with his fiduciary obligations” to administer the fund, the Washington Post reported July 29. LC is the beneficiary of 37.5% of the Ira and Leonore Gershwin Trust Fund and Related Charitable Trust, which LC estimates has provided more than $6 million since 1992 and has enabled it to mount a permanent exhibition of Gershwin memorabilia. In his 16-page July 28 memo to Librarian of Congress James Billington, Dale Williams cited a $2.25-million loan the trust made to Gershwin nephew and overseer Michael Strunsky and his wife. Williams also questioned the 1996 purchase of a $58,000 Lexus for the trust and Strunsky’s $708,000 compensation in 1996–1998. Lawyers for Strunsky declined to comment. The primary purpose of the trust is to perpetuate the name and closely guarded copyrights of the works of composer George Gershwin and his lyricist brother Ira. The trust was established under the will of Ira’s widow, Leonore. Strunsky, his lawyers, and LC officials are to meet August 11. Posted August 7, 2000. |
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