Digital BW, The Print

"Why don't you just sell images
(indicating on the price card that the proceeds will be donated), and
donate the proceeds back to the art center as cash and value your
donation as the actual cash sale. That way you get the full deduction
of the sale price, the sale validates the amount of the reduction,
and the art center gets cash for the building fund."

Because there would be a taxable gain on the sale, which would offset the 
charitable contribution deduction and the whole thing would be a wash.

----- Original Message ----- 
From: "richardeskin" <richeskinphoto@...>
To: <DigitalBlackandWhiteThePrint@yahoogroups.com>
Sent: Wednesday, June 13, 2007 8:14 PM
Subject: [Digital BW] Re: Valuing Prints


It isn't clear whether the images are being donated to be hung in
their new or refurbished building, or as a cash contribution to the
building fund.  If the latter why don't you just sell images
(indicating on the price card that the proceeds will be donated), and
donate the proceeds back to the art center as cash and value your
donation as the actual cash sale. That way you get the full deduction
of the sale price, the sale validates the amount of the reduction,
and the art center gets cash for the building fund. Any images not
sold can be donated after the exihibit at material value or, in
appreciation for your donation, to be permanently exhibited in the
new building.

--- In DigitalBlackandWhiteThePrint@yahoogroups.com, "hflockwood"
<hflockwood@...> wrote:
>
> In a juried process, I was selected to exhibit my (B&W) prints at a
non-profit art center in VT
>>
> 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..
>
> 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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