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Subject:
From:
Karen Kroslowitz <[log in to unmask]>
Reply To:
Museum discussion list <[log in to unmask]>
Date:
Wed, 10 May 2006 13:21:24 -0400
Content-Type:
text/plain
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text/plain (29 lines)
There is no issue at all with the Historical Society's fundraising goal of soliciting and 
receiving donations to purchase the house. It is merely acting as a second party - 
like a community foundation might with a donor-advised fund.  Once purchased, the 
Society can choose to do whatever it wants to with the property, including 
transferring ownership to the City.  It would be best for the Society to make public its 
intentions from the start so as not to mislead its community of supporters into 
believing that the Society will be the owner and responsible for the home's ongoing 
maintenance - or exhibits and tours or whatever else.  To that end, it would be best 
for the Society and the City to clarify and agree in a Memorandum of Understanding 
all intentions and ongoing responsibilities for both entities during the fundraising 
campaign and after the transfer.

You have already answered your own question regarding the quid pro quo 
statement. Here's what we use at UC Santa Cruz: "No goods or services were 
exchanged for this charitable contribution unless otherwise noted. The full amount of 
your contribution is tax deductible to the extent allowed by law." This second line 
places the oenus and deduction claim on the donor and makes it clear that tax laws 
may limit the amount of deductions based on annual gross income.

Don't forget to include the gift amount, Society's full name, tax exemption status 
(501(c)3 I presume) and Federal Tax ID number.

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