The IRS will accept valuations up to that level without a written appraisal.  That doesn't mean you as a Museum are allowed to place that value on the object.  It would still be a  conflict if the IRS ever looked at the individual's tax return.  You can't appraise items given to you as it is seen as a red flag by the IRS.  Most donors will understand this when it is explained to them.

The donor can get a verbal appraisal, or place the value themselves.  It still has to be an accurate valuation.

Dane F. Pollei
Director
Mabee-Gerrer Museum of Art
1900 W. MacArthur Dr.
Shawnee, OK  74804

direct office:  405-878-5622

phone: 405-878-5300
fax:   405-878-5133

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www.mgmoa.org

---------- Original Message ----------------------------------
From:         Susan English <[log in to unmask]>
Reply-To:     Museum discussion list <[log in to unmask]>
Date:          Thu, 12 Jul 2007 16:52:08 -0500

>We are being offered a local history photograph collection.  We told the
>prospective donor that he would have to have an appraisal done if he wanted
>to deduct the value of the collection on his taxes.  We got 3 appraisers
>through research of the Society of Appraisers website.  One the appraisers
>told our prospective donor that the museum could value the collection up to
>$5000 without the need for getting a professional appraisal.  Neither my
>curator or myself had ever heard this.  We are very leery of valuing a
>person's donation for tax purposes.
>
> 
>
>Has anybody else had experience with this?
>
> 
>
> 
>
>Susan English
>
>Executive Director
>
>Joliet Area Historical Museum
>
>204 N. Ottawa St.
>
>Joliet, Illinois  60432
>
>(815) 723-5201 ext. 222
>
> <http://www.jolietmuseum.org> www.jolietmuseum.org
>
> 
>
>
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