Manx National Heritage says there are a number of ways it could spend a ?1.2 million windfall.
Colby resident John Donald Collister left the sum in his will, saying it was to pay for a heritage centre and museum in the village.
However, a court has ruled the money should go to MNH, after it was made clear it wouldn't be possible to get planning approval for the building on the proposed site, alongside the Ballastrooan estate.
Director of MNH Edmund Southworth says many options will be considered:
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