To Give and To Receive

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).

• AcknowledgmentsIntroductionPART ONE The Museum's Perspective1 Museums as Donees: Standards, Best Practices, and Ethical and Legal Responsibilities,Beth J. Parker Miller and Amy McKune2. 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 Vreeland4 Gifts of Works of Art Brochure, The Metropolitan Museum of Art, Romy M. VreelandPART TWO: The Donor's Perspective5 Responsibilities of the Donor,Beth J. Parker Miller, Amy McKune, Romy M. Vreeland6 Donations to Museums: An Overview, Romy M. Vreeland,Sharon Smith Theobald7 Donor Recordkeeping and Reporting Sample Deed of Gift, Romy M. Vreeland8 Case Note: Caveat Mutuor: A Cautionary Tale, Helen A. HarrisonPART THREE: The IRS Perspective, Compiled and Edited byLaurette E. McCarthy, Ph.D.9 Noncash Contributions over $5,000 and Records to Retain10 Synopsis of IRS Publication 561: Determining Value11 Internal Revenue Service Review of Appraisals12 IRS Form 8283, Noncash Charitable Contributions13 Appraisals and Appraisers14 Works of Art and Collectibles15 Definition of a Qualified Appraiser and Excluded IndividualsPART FOUR: Gift Considerations and Perspectives16 Bargain Sales (Part charitable contribution and part sale or exchange; Sample Letter) Romy M. Vreeland17 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 Gifts20 Cultural Patrimony and Ethnographic Gifts, Elizabeth Morton, Ph.D.21 Cultural Patrimony Chart, Elizabeth Morton Ph.D.PART FIVE: Ownership Perspectives and Fair Market Value22 Conveyance of Intellectual Rights and Copyright Chart, Christine Steiner, David Carson23 Artists and Artist Foundation Gifts to Museums, Sharon Smith Theobald24 Case Note: Copyright Does not Transfer with the Gift, Luke Nikas and Maaren A. Shah25 Title Insurance As It Relates to Clear Title, Marie C. Malaro26 Provenance and Provenance Research, MacKenzie Mallon27 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 Use29 Penalties for Donees30 Penalties for Donors31 Penalties for Appraisers32 Fractional Gifts/Partial Interest Gifts: Gifts Made for Tax Purposes 33 Charity Auctions and Donation Deductions34 IRS Definitions of a Qualified Appraisal and Qualified Appraiser, effective for gifts made on or after January 1, 2019, Sharon Smith Theobald35 IRS Art Advisory Panel36 IRS Art Advisory Panel Format for Gifts over $50,00037 IRS Forms 38 FAQs Regarding Gifts of Property, Romy M. Vreeland39 IRS Revenue Procedure 96-15 Glossary of TermsResources and BibliographyAbout The ContributorsAbout the EditorIndex

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.”