The Wake Forest University Art Collection consists of nearly 1300 works of art of various media dating from the fifteenth century to today that are divided into nine distinct collections. Assessing the current state of the Collection, this thesis project evaluates the art historical significance of the Collection using select museum quality works of art and then proceeds with a discussion of collections management, including the topics of acquisition, accession, and risk management. Environmental conditions in Collection facilities are measured against widely accepted museum standards. Use of the Collection as an educational resource by the University and surrounding community is compromised by a variety of factors, including issues of accessibility and security. General recommendations to improve the current state of the Collection include adapting collections management policies and procedures to standard museum practices and the creation of a permanent museum space and staff.