I would not want this kind of language. It makes it seem like you are
giving donors tax advice, which could create other legal entanglements.
(Are you advising them with their taxes?)I would rather let donors know
what their responsibilities are for possible tax deductions without
getting into the specific forms or form requirements.
I would suggest that they explain that their gift is or may be (if you
have situations that might not be eligible) eligible for a tax deduction
and that they should contact the IRS or their tax advisor for
assistance. I would also say that it is the responsibility of the
donor to fill out and file all necessary paperwork, to obtain any
necessary appraisals and to pay any associated costs for claiming this
deduction.
Hope this helps!
Tracie Evans
Curator of Collections
Sauder Village
-----Original Message-----
From: Museum discussion list [mailto:[log in to unmask]] On
Behalf Of Wade Lawrence
Sent: Monday, January 05, 2009 1:01 PM
To: [log in to unmask]
Subject: [MUSEUM-L] Deed of gift question
Hello all,
We are revising our Deed of Gift, and our legal council wants to include
some language that I would like to hear from the group about, as
follows:
"Deductions for Charitable Contribution: Under current applicable law,
although it may change from time to time, if Donor elects to claim a
deduction for a charitable contribution of the gift, and the total
claimed value of which exceeds $500, Donor must file with its tax
returns IRS Form 8283. And if the value of the donation is claimed to be
in excess of $5,000, and Donor elects to claim a charitable donation,
then Donor must obtain a qualified written appraisal of the gift from a
qualified appraiser and attach IRS Form 8283 (signed by The Museum) to
your tax return. Again, since applicable law may change, questions
should be addressed to the IRS or your tax advisor."
This language is more specific than I have seen in other deeds of gift.
Any opinions out there?
Wade Lawrence
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