Digital BW, The Print

When an artist donates a work of art that he or she created to a charity the 
artist's tax deduction is an amount equal to the cost of the materials that 
were used to create the work of art plus any other related out-of-pocket 
expenses incurred  (e.g. matting, framing, the IRS mileage rate for miles 
driven to and from the exhibit site or the auction,  etc.). Nobody in any 
field is allowed to deduct the value of their time.

----- Original Message ----- 
From: "hflockwood" <hflockwood@...>
To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
Sent: Tuesday, June 12, 2007 11:09 AM
Subject: [Digital BW] Valuing Prints


In a juried process, I was selected to exhibit my (B&W) prints at a 
non-profit art center in VT
(Northeast Kingdom.)  The prints are archival (carbon on cotton: MIS 
quadtone, HFA paper)
and are professionally matted and (16x20) framed.  There will be 25 prints 
in the month-
long exhibit.

Since the center is in the midst of a fund raising effort, I'm contemplating 
donating the entire
collection to their building fund, rather than trying to sell them. 
Obviously, this raises the
question of how to value the collection for tax purposes.

The materials cost to me of putting the collection together is about $150 
per print, with no
value given to my time or to the artistic value of the prints included.

So, if I am to claim a charitable deduction, how do I value the donation? 
The center has
agreed that $400 per print, or $10,000 for the collection, would be easily 
justified.

I'm looking for guidance from others who may have faced a similar situation.

TIA.

Harry



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