To give and to receive : a handbook on collection gifts and donations for museums and donors
Title:
To give and to receive : a handbook on collection gifts and donations for museums and donors
Handbook on collection gifts and donations for museums and donors
Author:
Theobald, Sharon Smith, 1942- editor.
ISBN:
9781538128848
Edition:
Second edition.
Publication Information:
Lanham, Maryland : Rowman & Littlefield, 2021.
Physical Description:
xii,198 pages : illustrations ; 26 cm
General Note:
| "American Alliance of Museums"--Page facing title page. |
| Cover: Museum standards and practices--Authoritative guide to new IRS rules--Expert case notes. |
Contents:
Introduction--PART ONE The Museum's Perspective--1 Museums as Donees: Standards, Best Practices, and Ethical and Legal Responsibilities/Beth J. Parker Miller and Amy McKune--2. Case Note: “Gifts That Can Transcend Their Original Intent: The New National Art Museumof Sport at The Children’s Museum of Indianapolis”/Jeffrey H. Patchen, D.M.E.--3 Donation Process and Procedure Outline/Romy M Vreeland--4 Gifts of Works of Art Brochure, The Metropolitan Museum of Art/ Romy M.Contents: Vreeland--PART TWO: The Donor's Perspective--5 Responsibilities of the Donor/ Beth J. Parker Miller, Amy McKune Romy M. Vreeland--6 Donations to Museums: An Overview/ Romy M. Vreeland, Sharon Smith Theobald--7 Donor Recordkeeping and Reporting Sample Deed of Gift/ Romy M. Vreeland--8 Case Note: Caveat Mutuor: A Cautionary Tale/ Helen A. Harrison--PART THREE: The IRS Perspective, Compiled and Edited by Laurette E.Contents: McCarthy, Ph.D. --9 Noncash Contributions over $5, 000 and Records to Retain--10 Synopsis of IRS Publication 561: Determining Value--11 Internal Revenue Service Review of Appraisals--12 IRS Form 8283, Noncash Charitable Contributions--13 Appraisals and Appraisers--14 Works of Art and Collectibles--15 Definition of a Qualified Appraiser and Excluded Individuals--PART FOUR: Gift Considerations and Perspectives--16 Bargain Sales (Part charitable contribution and part sale or exchange; Sample Letter) Romy M.Contents: Vreeland--17 Promised Gifts and Bequests (Sample Promised Gift Agreement) Compiled and Edited by Laurette McCarthy, Ph.D.,--18 Fractional Gifts/Partial Interest Gifts (Sample Partial Interest Gift Agreement) Compiled and Edited by Laurette McCarthy, Ph.D.,--19 Restricted and Unrestricted Gifts--20 Cultural Patrimony and Ethnographic Gifts/ Elizabeth Morton, Ph.D.--21 Cultural Patrimony Chart, Elizabeth Morton Ph.D.--PART FIVE: Ownership Perspectives and Fair Market Value--22 Conveyance of Intellectual Rights and Copyright Chart/ Christine Steiner, Contents: David Carson--23 Artists and Artist Foundation Gifts to Museums, Sharon Smith Theobald--24 Case Note: Copyright Does not Transfer with the Gift/ Luke Nikas and Maaren A. Shah--25 Title Insurance As It Relates to Clear Title/ Marie C. Malaro--26 Provenance and Provenance Research/ MacKenzie Mallon--27 Case Note “Witnesses to the Second World War: Studies in Provenance Research”/ Robert Simon, Ph.D.--PART SIX: Tax Perspectives for Museums: Review of Changes: Pension Protection Act:Compiled and Edited by Laurette E. McCarthy/ Ph.D.IRS Notice 2006-96.Contents: (www.irs.gov)--28 Related and Unrelated Use--29 Penalties for Donees--30 Penalties for Donors--31 Penalties for Appraisers--32 Fractional Gifts/Partial Interest Gifts: Gifts Made for Tax Purposes--33 Charity Auctions and Donation Deductions--34 IRS Definitions of a Qualified Appraisal and Qualified Appraiser, effective for gifts made on or after January 1, 2019, Sharon Smith Theobald--35 IRS Art Advisory Panel--36 IRS Art Advisory Panel Format for Gifts over $50, 000--37 IRS Forms--38 FAQs Regarding Gifts of Property, Romy M. Vreeland--39 IRS Revenue Procedure 96-15 Glossary of Terms
Abstract:
To Give and To Receive: A Handbook on Gifts and Donations for Museums and Donors,' Second Edition covers the process of substantiating the value of a gift and the obligations of the donor and donee. It is a concise guide on tax incentives for gifts of art, historic objects, and many other types of collectible material to not-for-profit institutions. This second edition includes: -Current museum best practices -Recent changes in IRS regulations enacted in 2019, including IRS 8283 Non Cash Charitable Contributions and revised IRS definitions of the standards for qualified appraisal and qualified appraiser and the mandated appraiser declaration -New art professionals' case studies and legal case notes on copyright law Beth J. Parker Miller, Amy McKune, Laurette E. McCarthy and Romy M. Vreeland were the major contributors without whom this resource would not be possible. The 2020 edition also includes expert case notes by Helen A. Harrison, Luke Nikas and Maaren Shah, Jeffrey Patchen, as well as Elizabeth Morton's updated section on cultural patrimony and Robert Simon and MacKenzie Mallon's contribution on provenance. These additions focus on perspectives in collection management, provenance research, due diligence, cultural patrimony, and legal issues related to gifts to museums. This authoritative guide is intended for museums and donors alike, providing valuable information on the donation process, current standards and best practices, ethical and legal issues, and IRS updates and valuation considerations to include: -Up-to-date information on gifts to museum collections and related new and updated IRS regulations -Guidance to organize and implement a gifting plan with practical advice in making decisions on collection gifts -Broader applicability to family members, attorneys, estate bankers, foundations and financial advisors who help inform gift and donation decisions.
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Bibliographical References:
Includes bibliographical references and index.
Field 805:
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