Rowman & Littlefield Publishers / American Alliance Of Museums
Pages: 210
•
Trim: 7⅜ x 10
978-1-5381-2883-1 • Hardback • December 2020 • $111.00 • (£85.00)
978-1-5381-2884-8 • Paperback • December 2020 • $54.00 • (£42.00)
978-1-5381-2885-5 • eBook • December 2020 • $51.00 • (£39.00)
Sharon Smith Theobald, ASA, Editor, has served as the Director of Art Museum of Greater Lafayette where she served as curator for over 100 exhibitions while developing The Baber Contemporary Painting and Sculpture Collection, the Fry/Pritsker Ceramic and Art Glass Collection and also led Purdue University’s Krannert School of Management’s Corporate Art Exhibition Program. She received her M.S. from Hofstra University, NY; completed graduate courses in Art History at the New School in New York City and Ph.D. studies at Purdue University and has served on the faculty of The State University of New York at Stonybrook and Wilfrid University, Ontario, Canada. Theobald also served the American Alliance of Museums on the Accreditation Commission and as Chair of the AAM Standing Professional Committee for Small Museum Administrators (SMAC) while chairing AAM Annual Meetings’ Museum Sessions in New York, Philadelphia, Boston, Chicago and Indianapolis. She studied Museum Management with The British Council and museum directors from twenty-two countries in London, England. In 1992, Theobald launched Appraisal Associates International and has worked with corporate, museum and university art collections while serving as an appraiser and advisor to both Museums and Donors. She was the co-editor of the American Society of Appraisers’ (ASA) Personal Property Journal while teaching ASA appraisal writing courses at George Washington and Northwestern University, The Rhode Island School of Design and The University of Missouri. Theobald and was the contributing co-editor To Give and To Receive :A Handbook of Gifts and Donations for Museums and Donors (AAM, 2011).
Acknowledgments
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 Museum
of 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. 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. 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. 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, 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. (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
Resources and Bibliography
About The Contributors
About the Editor
Index
Progressive tax incentives have for generations rewarded the American public with great artworks donated to museums by generous patrons. Theobald’s Handbook on the ever-evolving details of these incentives is required reading for museum professionals and potential donors alike. This important book will save countless hours of inquiry on the part of both donor and donees. More importantly, it will facilitate the beneficial transfer of cultural heritage from living rooms to museum galleries.”
— Maxwell L. Anderson, President, Souls Grown Deep Foundation & Community Partnership
We installed our first public sculpture exhibit in 1999 because our university feared that technology’s galloping pace could eclipse the significance of many of the humanities’ great ideas. After 20 years of collecting art, we are glad took bold steps. You need this guide to help you navigate the waters and put you on everyone’s radar!
— Judy Jacobi, Assistant Vice Chancellor, University Art Collections, Purdue University Northwest
To Give and To Receive, Second Edition is a smart practical guide to navigating museum donations. It provides a comprehensive summary of collections gift management, as well as highlights best practices for museum professionals. I look forward to this addition to my resource library.
— Kate Brueggemann, Vice President, Development, Adler Planetarium
With constantly changing tax-incentives or disincentives for donations and at a time of increasing concern around the climate changes we have wrought on the planet, having a guide at your fingertips is necessary for the consideration of donations of works of art. Objects of art are how we define ourselves as institutions. How will the changing landscape affect those definitions? As the story unfolds, we should all have this book by our side.
— Franklin Sirnams, director, Pérez Art Museum Miami