This reads to me a little like an investor lawsuit transposed into the world of academia. In this case the Pearsons have the role of a philanthropic VC fund, and the Pearson Institute was a startup whose product would be groundbreaking research. And now the Pearsons have filed suit alleging that UChicago misled investors.
>This reads to me a little like an investor lawsuit transposed [...] the Pearsons have the role of a philanthropic VC fund
In case you weren't aware, "Venture Philanthropy" is a real, concrete term used since the 1960's and apropos![0] "Philanthropic VC [Fund]" is an oxymoron, though, I'm sure it's been used jokingly.
If the money comes with conditions, the recipient should comply or say "no thanks". There's no reason why this shouldn't apply to a philanthropic context.
