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Tal;

This maybe naive, and there maybe more knowledgeable answers, but I  
think it is the market value of the sculpture that is important. You  
need to get a reputable, and defensible, estimate of the value from an  
appraiser who knows the art market. This the artist uses this  
appraisal for his tax return. Your 501C3? I do not know how they  
handle it. But don't they have lawyers and tax advisors?

Sounds like a nice situation for you.

My bill is in the mail. Oh yes, put the money in a tin can and bury  
it . . . :)

Martin

New york Hall of Science


On Sep 17, 2009, at 5:06 PM, Tal Berman wrote:

> ISEN-ASTC-L is a service of the Association of Science-Technology  
> Centers
> Incorporated, a worldwide network of science museums and related  
> institutions.
> *****************************************************************************
>
>
>
> Dear colleagues,
>
> I would like to know if any one can help me with the following problem
> that we face recreantly. Perhaps any one already had similar situation
> and we can use your experience .
>
> We have been made an offer by a west coast artist to receive a set of
> bronze sculptures of famous scientist, as a donation
>
> The artist of course wants to receive a tax refund on the actual value
> of the sculptures, rather than the metal value (which off course he  
> have
> invoice for).
>
> Turns out that this is not that simple, - how are we going to deal  
> with
> the IRS? What should be declared to the IRS? How do you set the true
> value of sculptures? The work, studio maintenance etc.
>
> If anyone has an idea....
>
> We are interesting in this donation, and obviously we are    
> interesting
> that the artist will get full compensation  for his work.
>
> It is important to state that although we are an Israeli national
> museum' our friends of the museum society is situated in the states'  
> and
> is a 501c3 organization which can receive tax refunds in the US.
>
>
>
> Thank you
>
> Tal
>
> Tal Berman; Ph.D.
> Head of the Exhibits wing
> The Israel National Museum of Science, Technology & Space;
> Daniel and Matilde Recanati Center
> 25 Shmaryahu Levin St.; Haifa, 31448; ISRAEL.
> Tel: +972-4-861-4452 Fax: +972-4-861-4352; Cell': +972-54-6115577
> Email:  <blocked::mailto:[log in to unmask]> [log in to unmask]; Site:
> <blocked::http://www.madatech.org.il/> http://www.madatech.org.il
> Skype: tal_berman
>
>
>
> LONGITUDE 320 48.587' N   LATITUDE 0340 59.790' E
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______________________________
______________________________
Martin Weiss, PhD
Science Interpretation Consultant
New York Hall of Science
mweiss at nyscience dot org

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