Gail, the IRS recognizes only gifts given IN the tax year.  Written pledges
etc., for one thing, don't hold up in court.  You cannot issue a receipt
for any gift until you have it in hand (you could, but you'd be violating
the law as I understand it to read) and therefore the donor would have
nothing to show IRS.

On the other hand, many institutions (rightly or wrongly) do accept
monetary gifts if the check is dated before Jan. 1, and issue receipts
according to date of check.  In this way, gifts hung up in the mail don't
get ignored in that tax year.  Universities receive zillions of checks a
year and this is their standard practice.  But if someone walks in January
21 with a check dated December 31, I doubt they would follow that practice.


Gail wrote:


What is the rule on giving gifts to the museum at the end of the year and
being able to take the income tax deduction? Does the gift have to be in
possession of the museum by the end of the year, or is a verbal or written
proposal of the gift (and perhaps written agreement to accept) necessary
for
the deduction to be honored. Thanks for your help.

Gail Kana Anderson
Fred Jones Jr. Museum of Art
The University of Oklahoma
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405.325.3272; fax 405.325.7696