Is this a partial gift of one object, say 20% of the value of an
expensive tea table each year? If so, don't accept that - way too
complicated and if they want to rescind their gift at year three, then
you own 2/5 of an object. Not a good idea for your museum legally. There
are tax implications, etc., too (that's probably why they want to donate
a part at a time). It's fraught with bad vibes.
 
If this is multiple objects, then each year's gift should be an
individual transaction.
If you retain custody of everything, the other items should be loans
until they are yours legally.
 
If this is money, again, each year's gift should be individual
transactions.
 
Sabrina Henneman
Registrar
Genesee Country Museum

-----Original Message-----
From: Beth Parker Miller [mailto:[log in to unmask]]
Sent: Friday, August 26, 2005 8:39 AM
To: [log in to unmask]
Subject: [MUSEUM-L] Credit lines for partial gifts


We have been offered a gift that the donor would like to make over the
next five years (20% each year).  For those who have encountered similar
gift situations, what wording have you used for credit lines?
 
Beth Parker Miller
Associate Registrar, Permanent Collections
Winterthur Museum
[log in to unmask]

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